Australia’s Scape raises $2b in debt

Australian owner and operator of student housing Scape has closed on A$3 billion ($2 billion) in new debt financing, reported Mingtiandi.

The majority of the capital was from 18 banks to refinance A$1.5 billion ($1 billion) of debt under its Scape Core Program flagship fund, which owns a A$4 billion ($3.6 billion) portfolio of student accommodation assets across Australia. The group of lenders offered total commitments of A$4.2 billion ($2.8 billion), oversubscribing the offering by 2.8 times, according to company representatives.

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