By Devika Patel
Knoxville, Tenn., Oct. 3 – Assura plc said its subsidiary Assura Financing Ltd. has settled a £150 million private placement of notes in two tranches with clients of LGIM Real Assets. IDCM Ltd. was the arranger.
The notes have weighted average maturities of eight years and 10 years, with a weighted average coupon of 3.04%.
“We are delighted with the support for this private placement which further diversifies our sources of funding,” chief executive officer Jonathan Murphy said in a press release.
“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,” Murphy said.
In addition, the availability under the company’s revolving credit facility, which is a variable rate facility at an initial margin of 150 basis points, has been increased to £300 million.
Assura is a London-based primary care property developer.
| Issuer: | Assura Financing Ltd.
|
| Issue: | Senior notes
|
| Amount: | £150 million
|
| Maturity: | Eight years, 10 years (weighted average)
|
| Coupon: | 3.04% (weighted average)
|
| Arranger: | IDCM Ltd.
|
| Investor: | LGIM Real Assets
|
| Settlement date: | Oct. 20
|
| Distribution: | Private placement
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
