1st Jul 2026 08:50
Primary Health Properties PLC - London-based healthcare facility investor - Refinances existing debt facilities with a new term loan and revolving credit facility totalling GBP800 million. Says eight banks are involved in the new term loan and revolving credit facility. New facilities are on average 40 basis points cheaper than the existing ones, PHP says. Plans to initially draw GBP500 million, leaving GBP300 million of undrawn liquidity headroom. The drawdown will be used to repay other debt.
"The successful refinancing is an important step on PHP's journey to becoming a fully unsecured borrower and we are delighted to continue our long-standing relationships with a number of banks as well as engaging new lenders," PHP Chief Financial Officer Richard Howell says.
Current stock price in London: 94.60 pence, down 1.2% on Wednesday
12-month change: down 5.4%
Current stock price in Johannesburg: ZAR24.18, up 15%
12-month change: down 2.5%
By Artwell Dlamini, Alliance News senior reporter South Africa
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