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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Target Healthcare Reit Plc | LSE:THRL | London | Ordinary Share | GB00BJGTLF51 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
1.00 | 1.32% | 76.50 | 75.60 | 76.20 | 76.90 | 75.00 | 75.00 | 3,503,824 | 16:35:23 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Finance Services | 67.75M | -6.57M | -0.0106 | -71.60 | 470.76M |
TIDMTHRL
RNS Number : 3729P
Target Healthcare REIT Limited
31 August 2017
Target Healthcare REIT Limited
New Debt Facility
Target Healthcare REIT Limited and its subsidiaries (the "Group") is pleased to announce it has entered into a new five year GBP40 million committed term loan facility with First Commercial Bank, Limited (the "FCB Facility").
The FCB Facility can be drawn down flexibly over the course of the next 24 months with an initial drawdown of GBP5m to take place immediately. The facility has an initial margin of 175 basis points over 3 month LIBOR which is currently equivalent to an interest cost of 2.03% per annum and an all-in cost (inclusive of arrangement expenses) of 2.39% per annum. The Group intends to hedge a significant part of its interest rate exposure on the facility once it has drawn sufficient funds.
The facility agreement contains a typical security package including loan to value and interest cover ratio covenants which are broadly in-line with the Group's existing debt arrangements.
The Group's existing GBP50 million committed term loan and revolving credit facility with The Royal Bank of Scotland plc, which is repayable in 2021, remains in place. The FCB Facility will therefore provide further debt diversification for the Group as well as additional funds to allow the Group to execute its current investment opportunities efficiently.
Gordon Bland, Finance Director of Target Advisers, said:
"We are delighted to secure this new facility from First Commercial Bank, Limited. The Group continues to maintain its conservative approach to gearing and this facility allows us to combine balance sheet efficiency with operational flexibility as we progress the attractive investment opportunities we are currently seeing in the market."
Target Healthcare legal entity identifier: 2138008VQQ5Y9QXMX749
Enquiries:
Kenneth MacKenzie, Gordon Bland
Target Advisers
01786 845 912
Mark Young, Neil Winward, Tom Yeadon
Stifel Nicolaus Europe Limited
020 7710 7600
Martin Cassels
Maitland Administration Services (Scotland) Limited
0131 550 3760
Fiona Harris/Sam Emery
Quill PR
020 7466 5058 / 020 7466 5056
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations ((EU) No. 596/2014). Upon the publication of this announcement via Regulatory Information Service this inside information is now considered to be in the public domain.
This information is provided by RNS
The company news service from the London Stock Exchange
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August 31, 2017 02:01 ET (06:01 GMT)
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