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Arvida Group Limited — Capital/Financing Update 2021
Sep 30, 2021
66157_rns_2021-10-01_98adb24c-0c6b-498c-a1fb-89abb16b3c56.pdf
Capital/Financing Update
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NZX RELEASE ARVIDA REFINANCES DEBT FACILITY
1 October 2021 – Arvida Group Limited today announced that it has completed a refinance of its bank debt facility with ANZ Bank New Zealand Limited and Bank of New Zealand.
The refinance refreshed the tenure of the three $125 million facilities to 3, 4 and 5 years.
A new facility with a limit of $50 million and a tenure of 2 years was added.
The total limit of the bank facilities is now $425 million.
Arvida’s weighted average funding tenure (including its retail bond) is currently 4.4 years.
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For more information, please contact:
Jeremy Nicoll, Chief Executive Officer, Arvida Group Limited Tel: +64 21 403 665 or email: [email protected]
Mark Wells, Chief Financial Officer, Arvida Group Limited Tel: +64 21 327 054 or email: [email protected]
About Arvida:
Arvida is one of New Zealand’s largest aged care providers owning and operating 32 retirement villages located nationally. Each village operates independently under a corporate structure that supports village operations to ensure quality and consistency of service. Arvida has over 4,950 residents and provides a range of accommodation across a continuum of care that extends from independent living to full rest home, hospital and dementia-level care.
Arvida’s growth strategy includes the acquisition of quality villages that meet strict acquisition criteria as well as the development of additional facilities at existing villages and targeted development of new villages in areas that are supported by a strong demographic and economic profile.
Arvida is listed on the NZX (NZX: ARV). Website: www.arvida.co.nz