AgriBio, Centre for AgriBioscience

Plenary completes Biosciences Research Centre refinancing

Published 30 January 2014

MELBOURNE, VICTORIA – Plenary Group has completed a $233 million refinancing of the Biosciences Research Centre on behalf of majority owned subsidiary Plenary Research.

This is the first post GFC project to be refinanced at market competitive pricing that does not include Government participation.

Plenary Research attracted financing terms of 7 years priced at 190bps.

Plenary’s Executive Director of Origination in Australia, Mr Paul Crowe, said that Plenary was particularly pleased with the result on behalf of the State of Victoria.

“This was a strong outcome for the State with no requirement to participate or support the refinancing."

Mr Crowe said that it represented strong financier confidence in Plenary’s ongoing asset management capabilities.

“All three original bank financiers (CBA, NAB and Westpac) participated in the refinancing with commitments obtained for 150% of the required volume; all within 17 months of commercial acceptance," he said.

Christopher Whitefield

Corporate Affairs Manager
+61 3 8888 7754
+61 418 530 806