Friday 1st October 2021 |
Text too small? |
Vital has successfully secured A$315m in new debt facilities on improved pricing, increasing limits by A$65m to fully refinance the November 2021 and January 2022 facility expiries and support Vital's strong pipeline of value enhancing opportunities.
As a result, Vital's weighted average debt maturity has been increased by 1.4 years, from 2.5 to 3.9 years, consistent with Vital's strategy of increasing debt tenor to closer align with its market-leading Weighted Average Lease Expiry of 18.7 years.
Refinancing highlights include:
- Tranches totalling A$175m secured on 7-year terms, including the introduction of a new financier to further improve lender diversity;
- Tranches totalling A$40m secured for a term of 5 years;
- A 2.5-year A$100m multi-currency tranche; and
- Vital's next refinancing event is in FY23.
Over the last 9 months, Vital has increased its number of lenders from two to six, in addition to significantly modernising its financing arrangements.
Please see the link below for details
Debt refinance and facility limit increase
Source: Vital Healthcare Property Trust
No comments yet
EBOS announces appointment of new Chief Financial Officer
AM Best affirms Tower Limited's A- (Excellent) FSR
MCK enters into conditional agreement for Whangarei land
April 26th Morning Report
SPG - Change to Executive Team
BGI - Forgiveness of $200,000 of secured indebtedness
General Capital Subsidiary General Finance Market Update
AFT,Massey Ventures,Gilles McIndoe to develop scar treatmen
April 24th Morning Report
Cheers to many fewer grape harvest spills