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Vital Healthcare Property Trust (NZX: VHP) Announces Debt Refinance and Facility Limit Increase

Friday 1st October 2021

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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



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