Assura PLC Refinancing of RCF & new sustainability linkage (0389P)
09 Octubre 2023 - 1:00AM
UK Regulatory
TIDMAGR
RNS Number : 0389P
Assura PLC
09 October 2023
9 October 2023
Assura plc
Refinancing of RCF & new sustainability linkage
Assura plc ("Assura"), the leading primary care property
investor and developer, today announces it has refinanced its
revolving credit facility ("RCF" or "facility").
The new facility provides Assura with improved terms and
flexibility compared to the existing agreement:
- increased from GBP125 million to GBP200 million and matures in October 2026
- reduced margin (headline rate 135 basis points with ratchet
based on leverage) and overall cost, reflecting the strength of the
business
- ability to draw facility in both GBP and EUR
- option to extend the facility by two additional one-year terms
(to October 2028), subject to lender approval.
Reflecting Assura's long-term social impact and sustainability
targets, the RCF now also includes sustainability-linked KPIs and
commitments. Achievement of these KPIs, which are aligned with the
existing targets of the business, will result in the margin being
adjusted up or down by 5 basis points and the difference being
donated to the Assura Community Fund.
The RCF is provided by Barclays Bank PLC, HSBC UK Bank plc,
National Westminster Bank plc and Santander UK plc. Assura was
advised by Rothschild & Co and Addleshaw Goddard.
Jayne Cottam, CFO, said:
"We are delighted to have increased our RCF to GBP200 million,
extending the long-term relationship we have with our lenders. As
well as improving the terms, reflecting the strength of our
business, this agreement locks in flexible financing for our future
activities.
"Following this agreement, GBP800 million of our committed
facilities now have a sustainability-linkage, aligning our
financing with our ambitious ESG targets that are intrinsic to
Assura's business model."
- ENDS -
Assura plc Tel: 0161 515 2043
David Purcell, Investor Relations E mail: Investor@assura.co.uk
Director
FGS Global Tel: 0207 251 3801
Gordon Simpson Email: Assura@fgsglobal.com
Notes to Editors
Assura plc is a national healthcare premises specialist and UK
REIT based in Altrincham, UK - caring for more than 600 primary
healthcare buildings, from which over six million patients are
served.
A constituent of the FTSE 250 and the EPRA* indices, as at 31
March 2023, Assura's portfolio was valued at GBP2.7 billion.
At Assura, we BUILD for health. Assura builds better spaces for
people and places, invests in skills and inspires new ways of
working, and unlocks the power of design and innovation to deliver
lasting impact for communities - aiming for six million people to
have benefitted from improvements to and through its healthcare
buildings by 2026.
Assura is leading for a sustainable future, targeting net zero
carbon across its portfolio by 2040.
Further information is available at www.assuraplc.com
*EPRA is a registered trademark of the European Public Real
Estate Association.
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END
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