Desane Group Holdings' (ASX:DGH) Desane Properties unit refinanced its existing corporate debt facilities with National Australia Bank (ASX:NAB) from the Commonwealth Bank of Australia (ASX:CBA), according to a Monday Australian bourse filing.

The new debt facilities with NAB boost Desane's available funding capacity to AU$18.8 million, an increase of AU$6 million over the amount previously held with CBA, the filing added.

The company said that the refinanced facilities were obtained following independent valuations of four of the group's secured property investment assets, resulting in a net valuation increase of AU$750,000.

The company added that the refinanced debt facilities will provide enhanced flexibility to fund the construction of the proposed forty-four industrial unit project at 91 Thornton Drive, Penrith, in 2026, reducing its reliance on construction debt.

National Australia Bank's shares were up almost 2% in recent Monday trade, while Commonwealth Bank of Australia's shares added about 1%.