Promisia Healthcare has announced the early repayment of a $3.82 million vendor loan secured against the Aldwins House care facility.
The loan, which was due to mature on March 31, 2027, has been settled in full for a reduced sum of $3m, representing a 21.5% discount.
The repayment was financed through a new $3m loan facility from Bank of New Zealand.
Promisia said the transaction will result in an $820,000 reduction in the group's borrowings, a 2.2% increase in net tangible asset per share, and annualised interest cost savings.
The company said its priority has been to strengthen and streamline its debt profile, and this transaction, along with previous refinancings with BNZ, reflects its strong relationship with the bank and ability to support strategic growth.
See more
