Radius Care agrees new banking facilities

RADIUS RESIDENTIAL CARE LIMITED
Level 4, 56 Parnell Road, Parnell, Auckland, New Zealand
Phone 09 304 1670 www.radiuscare.co.nz
Caring is our calling
NZX Announcement
22 September 2021
Radius Care agrees new banking facilities
Radius Residential Care Limited (NZX:RAD) (“Radius Care”) is pleased to announce
that it has entered into a committed terms sheet with its banking partner ASB to
restructure and increase its current facilities.
The restructuring will see Radius Care’s existing debt of $18.8m increase to a total
facility size of up to $62 million, and includes the entry into of the following new five
year facilities:
•a $
20 million facility to fund existing developments and for general corporate
purposes;
•a $20 million development finance facility to support new and existing
developments; and
•a $20 million acquisition funding facility to support new acquisitions.
•In addition Radius Care retained $6.3m of cash from its recent capital raise to fund
growth.
Radius Care’s Executive Chair and Managing Director Brien Cree said “We are pleased
to have agreed terms with ASB to provide us with increased funding flexibility to
continue to target acquisitions of strategically important and attractive facilities as
well as advancing our plans for further greenfield and brownfield developments.”
The new facilities are subject to entry into of formal documentation with ASB.
Radius Care advises that the term of the escrow arrangements described in its
December 2020 Listing Profile including Radius Care, ASB, Wave Rider Holdings
Limited Knox Fund IV NZD LP and Knox Fund IV AUD LP have expired. Accordingly, the
shares in Radius Care held by Wave Rider Holdings Limited, Knox Fund IV NZD LP and
Knox Fund IV AUD LP have been released from the restrictions under those escrow
arrangements.
Executive Chair and Managing Director
Brien Cree
ENDS

RADIUS RESIDENTIAL CARE LIMITED
Level 4, 56 Parnell Road, Parnell, Auckland, New Zealand
Phone 09 304 1670 www.radiuscare.co.nz
Caring is our calling
Media and Investor Contact:
Brien Cree
Executive Chair and Managing
Director Phone: +64 021 955 769
Email: brien.cree@radiuscare.co.nz
About Radius Care
Radius Care was founded in 2003 and operates in the New Zealand aged care and
retirement village sectors. It is a nationwide provider offering the full range of
accommodation and care options giving residents the ability to “age in place”. Today,
Radius Care operates 22 aged care facilities, of which it owns seven and leases 15. It
also owns and operates two retirement villages and an online shop for specialist
assisted-living products. The company employs over 1,500 people, including highly
qualified healthcare staff who are committed to providing the very best in nursing
care. For more information visit radiuscare.co.nz
or check our Facebook page
@RadiusCareNZ.