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Arvida Group Limited — Capital/Financing Update 2022
Sep 30, 2022
66157_rns_2022-09-30_ebf78e40-c78e-4b41-acea-955b93e917f4.pdf
Capital/Financing Update
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NZX RELEASE ARVIDA REFINANCES DEBT FACILITY
30 September 2022 – Arvida Group Limited today announced that it has completed a refinance of two of its bank debt facilities with ANZ Bank New Zealand Limited and Bank of New Zealand.
The refinance refreshed the tenure of the $100 million facility by 2 years. It now has a tenure of 3 years to expiry. The refinance also increased the limit of the $50 million facility to $100 million and refreshed the tenure by 1 year. It now has a tenure of 2 years to expiry.
The total limit of the bank facilities is now $575 million.
Arvida’s weighted average funding tenure (including its retail bond) is currently 3.3 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 35 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 6,750 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