Vital gaining more bankers but lessening reliance on banks

Aaron Hockly, who heads Vital Healthcare's management team, wants longer debt maturities. (Image supplied)

Fri, 02 Jul 2021

Vital Healthcare Property Trust's manager has worked to increase its number of bankers at the same time as reducing its reliance on banks.At the trust's investor day earlier this week, chief financial officer Michael Groth outlined the strategy to increase its bankers from two to five and to start selling bonds of various types.As well as lessening Vital's reliance on its bankers, the aim is to also lengthen the term of its debt to about five years.The manager, a subsidiary of Canada-based NorthWest Healthcare Properties Real Estate...

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