Radius Care has successfully cleared its short-term debt and announced its intention to resume dividend payments.
The aged care provider revealed on Friday that it had completed a refinancing deal with ASB, which involved its remaining non-bank facilities.
These facilities were initially used to finance the purchase of Matamata Country Lodge.
As a result of the refinancing, all of Radius Care's bank facilities are now held with ASB.
The company stated that it has no short-term debt and expects to declare a dividend for the 2024 financial year.
Radius Care's improved operating results and momentum in the first half of FY24 will also be reflected in its full-year results, set to be released on May 27.
The refinancing is anticipated to generate approximately $1 million in financing cost savings per year.
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