8th Aug 2019 10:30
(Alliance News) - Assura PLC said Thursday it has raised GBP107 million of debt through the issue of private placed notes.
Shares in the primary care-focused real estate investment trust were up 0.4% at 65.78 pence on Thursday.
The notes will be issued by subsidiary Assura Financing PLC, and in two series with maturities of 10 and 15 years respectively.
The first series is for GBP47 million which has been issued immediately, the second series of GBP60 million will be issued on October 25. The weighted average interest rate of both series is 2.3%.
"We are delighted to have concluded this transaction at attractive rates and received support from our existing private placement lenders. This further reflects our strong financial position and the proceeds have been used to repay some of our drawings under our revolving credit facility. These notes extend our maturity profile as well as reducing our weighted average cost of debt," said Chief Financial Officer Jayne Cottam.
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