12 December 2011

DIT Establishes Bridging Facility

Infrastructure Capital Group ICG has put in place a fund-level $15 million debt facility for DIT with Westpac Bank. The facility has been established for bridging purposes and may be drawn upon to fund any acquisition that complies with the DIT investment mandate.

John Clarke, the DIT Portfolio Manager, said the purpose of the facility is to simplify the matching of investor capital to assets. He said, ‘We have put this facility in place to help with capital management of the fund. It’s not for leveraging the portfolio and any drawings of the facility must be repaid within 12 months’.

As at 31 December 2011, facility represented less than 5% of DIT’s Net Scheme Value of $315 million.