Cromwell Group (ASX: CMW) announced on Friday that it has successfully refinanced its syndicated debt facilities with a group of nine Australian, Asian and European banks.
The new facilities have a total limit of $1.3 billion with $1 billion already drawn, but more importantly, it extends Cromwell’s, “weighted average debt expiry by 3.6 years and Cromwell’s profile from, 2.9 years to 5.2 years” according to the announcement.
The average cost of debt across all Cromwell facilities has reduced to 3.25%.
Other REITs such as Charter Hall Retail REIT (ASX: CQR) (3.8%), Mirvac Group (ASX: MGR) (4.8%), DEXUS Property Group (ASX: DXS) (4%) and Investa Office Fund (ASX: IOF) (4.1%) have higher borrowing costs according to their latest company announcements.
Whilst I like Cromwell, this FREE report identifies the dividend shares that could be a much better choice for income-seekers over the next few years.
It's been a nail-biter of a reporting season here in the first half of 2018.
But the real action, in my opinion, is what companies are doing with dividends.
What does this mean for you? Well there is one stock I've found that could very well turn out to be THE best buy of 2018. And while there's no such thing as a 'sure thing' when it comes to investing - this ripper might come as close as I've ever seen.
You can find Kevin on Twitter @KevinGandiya.
The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.