VHP
17/12/2015 09:55
GENERAL
PRICE SENSITIVE
REL: 0955 HRS Vital Healthcare Property Trust
GENERAL: VHP: Vital extends bank debt facilities
Vital Healthcare Management Limited ('Manager') the manager of Vital
Healthcare Property Trust ('Vital') today announced that it had favourably
repriced and extended its existing bank facilities on more competitive terms
and added an additional A$100m tranche expiring October 2020.
The Manager confirmed it had secured the following with respect to its
existing banking facilities:
- Repricing existing tranches totalling A$225m whilst retaining March 2019
expiry;
- Extending and repricing existing tranches of A$100m and NZ$20m from March
2017 to October 2020; and
- Adding a new A$100m tranche with a October 2020 expiry.
The repricing benefits from lower line and margin fees in a competitive
pricing environment. Vital has retained strong support from its existing
capital partners being the ANZ Bank New Zealand Limited, Australia and New
Zealand Banking Group Limited and the Bank of New Zealand.
The bank facility provides further headroom for Vital to deliver on its
strategy of scale and diversification by providing additional flexibility for
new development and acquisition opportunities as they arise.
Vital's weighted average bank facility term to expiry has been increased to
4.1 years from 2.6 years, providing added certainty and duration of funding.
All other core terms and conditions remain unchanged.
- ENDS -
ENQUIRIES
David Carr, Chief Executive Officer
Vital Healthcare Management Ltd, Telephone 09 973 7301,
Email [email protected]
Stuart Harrison, Chief Financial Officer
Vital Healthcare Management Ltd, Telephone 09 973 7302,
Email [email protected]
About Vital Healthcare Property Trust
With a portfolio value of over NZ$777m, Vital Healthcare Property Trust
(NZSX: VHP) is Australasia's largest listed investor in healthcare real
estate. Tenants include hospital operators and healthcare practitioners who
deliver a wide range of medical and healthcare related services. Vital
currently has a portfolio of 28 properties with 79% by value located in
Australia and the balance in New Zealand. The Manager of Vital Healthcare
Property Trust is Vital Healthcare Management Limited.
End CA:00275272 For:VHP Type:GENERAL Time:2015-12-17 09:55:19
