Completion of Aldwins House Debt Refinancing

Market Announcement
24 January 2025
COMPLETION OF ALDWINS HOUSE DEBT REFINANCING

Promisia Healthcare Limited (Promisia) (NZX: PHL) is pleased to announce the early repayment of
the $3.82m vendor loan secured against Aldwins House care facility at a 21.5% discount.
The vendor loan was initially due to mature on 31 March 2027, but with the early repayment, a
reduced sum of $3m has been paid by Promisia to settle the vendor loan in full.
The repayment was financed through a new $3m loan facility from Bank of New Zealand (BNZ) with
a three-year term and at a fixed rate of 6.8% for two years. The impact of this transaction reflects an
$820k reduction in the Group’s borrowings, a 1.6 cent (2.2%) increase to net tangible asset per share
and an annualised interest cost saving.
A priority for Promisia has been strengthening and streamlining our debt profile and we have
undertaken a number of strategic transactions over the past 12 months in order to achieve this. The
most recent transaction results in all interest-bearing debt now:
- Consolidating under one primary lender (BNZ)
- Reducing the Group’s weighted average interest rate to 7.5% – a 150 bp reduction since 31
March 2024
- Extending the Group’s weighted average debt maturity to 2.1 years, compared to 1.1 years
as of 31 March 2024

This transaction, alongside the various other refinancing with BNZ over the last 12 month, is a
testament of the strong relationship Promisia has built with BNZ, as well as the Group’s ability to
create a platform to deliver on our strategic growth ambitions.
ENDS
Authority for this announcement:
Francisco Rodriguez Ferrere, General Manager – Finance, Promisia Healthcare Limited
For more information, please contact:
Francisco Rodriguez Ferrere
Phone: +64 21 245 1801 or email: Francisco.rf@promisia.co.nz
About Promisia Healthcare
Promisia is a New Zealand based aged care and retirement living provider, with a focus on delivering
quality personalised care. Our aim is to be the aged care provider of choice in our communities. Our
facilities are located in well-established and well serviced towns and metropolitan areas. Our goal is
to profitably grow our business in a sustainable manner, delivering quality care to our residents,
peace of mind to their families and whanau, and excellent value to our villages, community and
shareholders. Promisia is listed on the NZX (NZX: PHL). http://www.promisia.co.nz.