Wellington, Jan 23 NZPA - Infrastructure investor Infratil says $520 million of its bank facilities have been re-extended to the original three-year term.

The move resulted from the company and its banks completing a regular annual review of a third of Infratil's bank facilities.

The renewal meant that the only material debt maturity or review Infratil and its wholly owned subsidiaries had to undertake in the next two years was the 2010 review of a third of the facilities, Infratil said.

As at the end of December, the company and its wholly owned subsidiaries had $312m of undrawn bank facilities and cash on deposit.

Infratil announced at the start of the week that chief executive Lloyd Morrison had stepped down from the business for a period of medical leave, after being diagnosed with a form of leukaemia for which he had started treatment.

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