Impact Healthcare Signs GBP26 Mln Credit Facility With NatWest

By Joe Hoppe

Impact Healthcare REIT PLC said Monday that it has signed a new revolving credit facility of 26 million pounds ($36.1 million) with National Westminster Bank PLC and reduced its loan with Metro Bank PLC.

The real-estate investment trust said that the new facility is for an initial term of three years, with an option to extend for up to two more years, subject to lender approval. It has an accordion agreement of GBP50 million, allowing the company to expand the maximum amount borrowed under certain terms and conditions.

The trust also said it will repay GBP10 million of a GBP25 million term loan with Metro, with the release of certain properties from Metro that had been used as security. The properties will now be used as security under the new NatWest agreement.

No early repayments are due to Metro, with who Impact retains GBP40 million of facilities with.

The new facility takes Impact's total committed facilities to GBP141 million and will help ensure it remains well-capitalized with increased balance sheet flexibility.

Impact said it continues to pursue attractive investment opportunities and expects to disclose further updates in the next quarter.

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