Bank Facility Update – Capital Raising Requirement Removed

Bank Facility Update – Capital Raising Requirement Removed

Radius Care (NZX: RAD) is pleased to confirm an amendment to the terms of its lending arrangements with ASB.

ASB has endorsed the debt management program presented to the bank as an alternative to an equity raise and has correspondingly removed the requirement to have $30m of equity commitments.
Radius Care is proactively working on the debt management program (as outlined in Radius Care’s 2023 Annual Report) with progress on the revised plan to be reviewed on or before 30 September 2023.

ENDS

CONTACT DETAILS
For further information, please contact:
Wendy Jenkins
Chief Financial Officer
Phone: +64 27 471 2377
Email: [email protected]

About Radius Care
Radius Residential Care Ltd was founded in 2003 and operates in the New Zealand aged care and retirement village sectors. It is a nationwide provider offering the full range of accommodation and care options giving residents the ability to "age in place". Today, Radius Care operates 24 aged care facilities, of which it owns 13 and leases 11. Four owned facilities also include retirement villages and Radius Care’s online shop sells specialist assisted-living products. The company employs over 1,900 people, including highly qualified healthcare staff who are committed to providing the very best in nursing care. Radius Care listed on the NZX in December 2020. For more information visit radiuscare.co.nz or check out our Facebook page @RadiusCareNZ.

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Announcement PDF