30th Mar 2022 15:14
Life Science REIT PLC - life science property investor - Signs GBP150 million debt financing facility with HSBC UK Bank PLC, comprising a GBP75 million three-year term loan and GBP75 million revolving credit facility.
The combined facility has an interest rate of 225 basis points over SONIA, and will go towards giving the company additional resources to fund the acquisition of life science properties across the Golden Triangle.
"The company has a prudent approach to gearing and is targeting a LTV ratio of 30%-40% over the longer term. The debt facility announced today provides us with the flexibility to improve the efficiency of our balance sheet as we continue to make significant progress on a number of acquisition opportunities whilst also enhancing our financial resources," says Simon Farnsworth of Ironstone Asset Management.
Current stock price: 100.74 pence
12-month change: up 0.2%
By Dayo Laniyan; [email protected]
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