Vital announces debt refinance and facility limit increase

VITAL HEALTHCARE PROPERTY TRUST vhpt.co.nz
Managed by NorthWest Healthcare
Properties Management Limited


Managed by NorthWest Healthcare
Properties Management Ltd
MARKET RELEASE

1 October 2021

Debt refinance and facility limit increase
Vital has successfully secured
1
A$315m in new debt facilities on improved pricing,
increasing limits by A$65m to fully refinance the November 2021 and January 2022 facility
expiries and support Vital's strong pipeline of value enhancing opportunities.
As a result, Vital's weighted average debt maturity has been increased by 1.4 years, from
2.5 to 3.9 years
2
, consistent with Vital's strategy of increasing debt tenor to closer align with
its market-leading Weighted Average Lease Expiry of 18.7 years
3
.
Refinancing highlights include:
 Tranches totalling A$175m secured on 7-year terms, including the introduction of a
new financier to further improve lender diversity;
 Tranches totalling A$40m secured for a term of 5 years;
 A 2.5-year A$100m multi-currency tranche; and
 Vital's next refinancing event is in FY23.
Over the last 9 months, Vital has increased its number of lenders from two to six, in addition
to significantly modernising its financing arrangements.
This is a continuous journey and, in addition to the above, Vital is well underway with a
process to further enhance its funding structure with additional long term debt. More
details will be provided in advance of its Interim Results release later this year.

– ENDS –



1
Subject to customary closing conditions
2
As at 30 June 2021 on a pro-forma basis
3
As at 30 June 2021

VITAL HEALTHCARE PROPERTY TRUST vhpt.co.nz
Managed by NorthWest Healthcare
Properties Management Limited



ENQUIRIES
Aaron Hockly
Fund Manager, Vital Healthcare Property Trust
Tel 09 973 7301, Email aaron.hockly@nwhreit.com
Michael Groth
Chief Financial Officer, NorthWest Healthcare Properties Management Limited
Tel +61 409 936 104, Email michael.groth@nwhreit.com
About Vital (NZX code VHP):
Vital Healthcare Property Trust is an NZX-listed fund that invests in high-quality healthcare
properties in New Zealand and Australia including private hospitals (~85% of portfolio
value), ambulatory care facilities (~10% of portfolio value) and aged care (~5% of
portfolio value).
Vital is the leading specialist listed landlord of healthcare property in Australasia and
currently has a portfolio valued at over $2.6 billion.
Vital is managed by NorthWest Healthcare Properties Management Limited, a subsidiary
of Toronto Stock Exchange listed NorthWest Healthcare Properties REIT, a global owner
and manager of healthcare property.
For more information, visit our website: www.vhpt.co.nz