Assura subsidiary issues £150m of privately-placed notes, increases debt facilities
Assura’s wholly-owned subsidiary, Assura Financing Limited, has issued £150m of privately placed notes and increased its debt facilities.
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The debt was provided by LGIM Real Assets on behalf of clients and the notes were issued in two tranches, with maturities of eight and ten years and a weighted average coupon of 3.04%.
In addition, the available facilities under the group’s revolving credit facility have been increased to £300m, which is a variable rate facility at an initial margin of 150 basis points.
Assura said the new notes and the RCF are unsecured, in line with its funding strategy.
Chief executive officer Jonathan Murphy said: "We are delighted with the support for this private placement which further diversifies our sources of funding. With this transaction we have secured long term funding at low rates, putting us in a strong position to continue helping GPs to create the primary care buildings they need now and for the future."
At 1300 BST, the shares were up 0.1% to 62.25p.