Arvida Group Limited confirmed that the legal documentation has been executed to effect the refinancing of its bank debt facility. The effective date of the refinance was 6 April 2020. The two main changes are that the tenure of Tranche A of the facility (which was due to expire in June 2021) was extended for a further five years and a new tranche with a limit of $100 million was added to the facility, with a tenure of eighteen months. As a result, the facility limit has increased from $375 million to $475 million and the weighted average tenure has extended to 3.1 years. Arvida remains in a strong financial position with current drawn debt of $313 million and $162 million of undrawn credit.