Becton successfully extends refinance – but just for months

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The Becton Retirement Alliance (with the Oman Investment Fund) has achieved an extension of its $73.6m term debt with Suncorp-Metway, but just for three months. At the same time Becton has negotiated a seven month extension of its separate Hervey Bay / Wahroonga debt facility with Suncorp, worth $2.2M. the loan-to-value ratio on this deal has been increased to 80%. The debt can be reviewed if there is a sale of a property. Given The Breezes at Hervey Bay has already been sold by Becton (to RSL Care), this must mean The Woniora vertical village in Wahroonga must be on the market as well.

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