Charter Hall Long WALE REIT (ASX:CLW) has completed a major refinancing of its balance sheet, securing a new AU$2 billion debt platform spread across 10 lending counterparties, according to a Wednesday filing with the Australian bourse.

The restructure replaces the company's prior unsecured debt arrangement and fully refinances its existing obligations, including the repayment of its medium-term notes in the Australian bond market, per the filing.

The new arrangements extend the company's weighted average debt maturity by 1.6 years to 4.3 years, with staggered maturities from fiscal 2029 to fiscal 2032, while also enhancing financial flexibility through increased covenant headroom, the filing said.

The weighted average credit margin has been lowered by around 20 basis points, with revised covenants establishing a maximum loan-to-value ratio of 65% and a minimum interest cover ratio of 1.5 times, the filing added.