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Radius Residential Care Expands Debt Facilities by NZ$30 Million

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Radius Residential Care (NZE:RAD) restructured and expanded its bank debt facilities with a new lending syndicate comprising Commonwealth Bank of Australia's (ASX:CBA) ASB Bank and the Bank of China New Zealand, increasing its available funding by NZ$30 million, according to a Monday filing with the New Zealand bourse.

The updated financing package includes NZ$15 million for core debt and NZ$15 million for development projects to support the acquisition of a care home in Karori, Wellington, and a new development in Belfast, Christchurch, per the filing.

The facilities have also been extended through June 30, 2029, with financing costs also reduced by an average of 65 basis points in margins and line fees, the filing added.

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