Oceania Syndicated Bank Facility Update

Oceania Syndicated Bank Facility Update

05 March 2025

Oceania Healthcare Limited (NZX: OCA) is pleased to announce that it has extended the maturity of its bank debt facilities to three and five years and introduced a new lender to the syndicate with financial close to occur on 1 May 2025.

Oceania Chief Financial Officer Kathryn Waugh said, "we are pleased with the ongoing support of our lenders and the changes provide OCA with extended tenor, optimal pricing and no change to financial covenant metrics which reflects a strong market appetite for the business". Mrs Waugh acknowledged the ongoing support of syndicate members ANZ, ASB and ICBC and the introduction of BNZ to the syndicate.

With strong appetite from lenders, and no requirement for additional capital, the total limit of bank facilities will remain at $500 million. The split between facility limits remains as $235 million of core facilities and $265 million of development facilities. The current weighted average tenure of total debt facilities has been extended to 4.8 years, with $50 million maturing 30 April 2028, and $450 million maturing 30 April 2030.

As at 30 September 2024, total net debt headroom was $96 million which provides prudent headroom to allow for the execution of current and future development plans.

This announcement has been authorised for release by Oceania's board of directors.

For all enquiries, please contact email [email protected] or phone 0800 333 688.

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Announcement PDF