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DRI Healthcare Trust Announces US$200 Million Credit Facility
DRI Healthcare Trust Announces US$200 Million Credit Facility Canada NewsWire ...
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[{"type":"text","content":"\n \n \n \n DRI Healthcare Trust Announces US$200 Million Credit Facility\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n Oct. 22, 2021\n \n /CNW/ - DRI Healthcare Trust (TSX: DHT.UN) (TSX: DHT.U) (\"DRI\" or \"the Trust\") announced today that a subsidiary of the Trust has entered into a credit agreement with a syndicate of banks regarding\n \n US$200 million\n \n of revolving credit facilities (\"the Facilities\"). An initial draw on the Facilities will be used to fully retire the existing senior secured notes issued by a subsidiary of the Trust, with future draws expected to be used to fund future acquisitions of royalty assets. The Facilities have a three-year term and are secured by all of the assets of the Trust and most of its subsidiaries.\n \n \n \n \n \n \n \n \n \n \"Obtaining these facilities is another significant milestone for DRI, providing capital and flexibility to execute our growth strategy,\" stated\n \n Behzad Khosrowshahi\n \n , Chief Executive Officer of DRI Healthcare Trust. \"Over the past several months, we have demonstrated our ability to source attractive, accretive transactions that meet our target criteria. These new credit facilities, combined with the strong cash flow generated from our assets, positions us well to continue to act on opportunities to grow our portfolio.\"\n \n \n The lending syndicate is comprised of Canadian Imperial Bank of Commerce and HSBC Bank Canada as Co-Lead Arrangers, and includes Royal Bank of\n \n Canada\n \n , The Bank of\n \n Nova Scotia\n \n , Bank of America, N.A.\n \n Canada\n \n Branch, and National Bank of\n \n Canada\n \n .\n \n \n \n \n About DRI Healthcare Trust\n \n \n \n \n DRI Healthcare Trust provides unitholders with differentiated exposure to the anticipated growth in the global pharmaceuticals and biotechnology markets. Our business model is focused on managing and growing a diversified portfolio of pharmaceutical royalties and related assets with the aim to deliver attractive growth in cash flow over the long term. DRI Healthcare ...