The board of Directors of Impact Healthcare REIT plc (ticker: IHR) (the “Board“), the real estate investment trust which gives investors exposure to a diversified portfolio of UK healthcare real estate assets, in particular care homes, is pleased to announce that the Group has agreed a new revolving credit facility of £25 million (the “Facility“) with Clydesdale Bank PLC (“Clydesdale“).
The Facility has a margin of 225 or 250 basis points over three-month LIBOR, depending on the loan-to value ratio of the 14 properties over which the Group has granted security to Clydesdale as security for the loan.
The Facility will help the Group to continue to manage its capital structure in line with its investment policy in a flexible manner and will support the Group with its future growth plans.
The Group’s debt facility with Metro bank announced in June 2018 is now fully committed.
In relation to our current placing programme, a supplementary prospectus in connection with the entry into this facility agreement will be published shortly.
This announcement contains inside information.
For further information please contact:
Impact Health Partners LLP via Maitland/AMO
Winterﬂood Securities Limited
Tel: 020 3100 0000
RBC Capital Markets
Tel: 020 7653 4000
Maitland/AMO (Communications Adviser)
Tel: 020 7379 5151
The Company’s LEI is 213800AX3FHPMJL4IJ53. Its home member state is the United Kingdom.
A copy of this announcement will be available on the Company’s website at www.impactreit.uk
Impact Healthcare REIT plc is a real estate investment trust (“REIT”) which aims to provide shareholders with an attractive return, principally in the form of quarterly income distributions and with the potential for capital and income growth, through exposure to a diversified portfolio of UK healthcare real estate opportunities, in particular residential care homes. The Group’s investment policy is to acquire, renovate, extend and redevelop high quality healthcare real estate assets in the UK and lease those assets primarily to healthcare operators providing residential healthcare services under full repairing and insuring leases.
The Group has now declared or paid seven quarterly dividends of 1.50 pence per share since IPO on 7 March 2017.
The Company will seek to grow the target dividend in line with the inflation-linked rental uplifts received by the Group under the terms of the rent review provisions contained in the Group’s leases in the prior financial year.
The Company is listed on the premium listing segment of the Official List of the UK Financial Conduct Authority and was admitted to trading on the Main Market for listed securities of the London Stock Exchange in February 2019.
Neither the content of the Company’s website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.
Impact Healthcare REIT plc
9 Berkeley Street, London W1J 8DW
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