Radius Extends Bank Facilities, Reduces Financing Costs

Radius Residential Care Limited (NZX: RAD) (Radius Care) is pleased to announce that it has extended the maturity of its core debt facilities to three years, with reduced margin and line fees.

Jeremy Edmonds, Radius Care’s Chief Financial Officer, acknowledged Radius Care’s longstanding relationship with ASB Bank. “The facility extension demonstrates confidence in Radius Care’s financial performance and exciting growth strategy, and allows us to execute our immediate growth plans”.

The revised margin and line fees will reduce Radius Care’s effective interest rate by approximately 50 basis points. Combined with ongoing reductions in floating rates, as announced on 13 June, total financing costs will reduce by at least $1m in the current financial year.

ENDS

Media and Investor Contacts
Andrew Peskett
Chief Executive Officer
Phone: +64 21 747 363
Email: [email protected]

Jeremy Edmonds
Chief Financial Officer
Phone: +64 22 650 9354
Email: [email protected]

About Radius Care
Radius Residential Care Limited was founded in 2003 and listed on the NZX in December 2020. Radius Care provides essential healthcare services to elderly New Zealanders, offering the full range of accommodation and care options in communities throughout the country. Today, Radius Care operates 24 aged care facilities, of which it owns 12 and leases 12. Four of the owned facilities also include retirement villages and Radius Care’s online shop sells specialist assisted-living products. The company employs over 2,000 people, including highly qualified healthcare staff who are committed to providing the very best in nursing care, and has expanded its services, establishing RConnect, a Nurse and Carer bureau and Home Care provider. A 51% holding in Cibus Catering was acquired in October 2024. Cibus provides menu planning and nutrition management services to the aged care sector, as well as full-service kitchen and food management to 25 care homes across New Zealand, including 12 Radius Care sites. For more information visit radiuscare.co.nz or check out our Facebook page @RadiusCareNZ.

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Announcement PDF