Ryman Healthcare has successfully completed the refinancing of its $2 billion syndicated loan facilities.
The refinancing extends the average tenor to five years and introduces a new structure that enhances funding flexibility.
The company's loan facility size remains unchanged, with total debt facilities of $2.2b, including a $150m retail bond.
Key terms of the refinancing include a total facility size of $2.048b, facility maturities ranging from 4.5 to 7 years, improved pricing for loan margins and line fees, and a 1.5x interest cover ratio covenant.
Ryman owns and operates 49 retirement villages in New Zealand and Australia, with 15,300 residents and 7,800 staff.
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