Cromwell Funds Management Limited (CFM) has finalised the extension of a debt facility for the Cromwell Direct Property Fund (Fund). The current debt facility was upsized from $75 million to $150 million and the term of the debt facility was extended to May 2027. The upsize takes the total debt available to the Fund to $416.5 million.

CFM has also finalised an interest rate swap on a further 12% of the Fund’s debt facilities. The additional interest rate swap is effective from 6 June 2022 and  expires in June 2025.

The new interest rate swap takes  the total value of interest rate swaps to $148.25 million on total drawn balances of $307.4 million.

Disclaimer:

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333 214 (CFM) has prepared this update and is the responsible entity of, and the issuer of units in, the Cromwell Direct Property Fund ARSN 165 011 905 (Fund). In deciding whether to acquire or continue to hold an investment you should consider the Product Disclosure Statement (PDS) and assess, with (or without) your financial adviser, whether products fit your objectives, financial situation or needs. A target market determination (TMD) is also available. Applications for units in the Fund can only be made on the application form. The PDS, TMD and application form are issued by CFM and are available from www.cromwell.com.au/dpf or by calling Cromwell's Investor Services team on 1300 268 078. This content has been prepared without taking account of your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this update. If you acquire units in the Fund, CFM and certain related parties may receive fees from the Fund and these fees are disclosed in the PDS.

Please note: Any investment, including an investment in the Fund, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not indicative of future performance. Forward-looking statements in this update are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Fund are subject to the risks and assumptions set out in the PDS.