Primary Health Properties PLC

Capital/Financing Update • Dec 18, 2013

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RNS Number : 8501V

Primary Health Properties PLC

18 December 2013

PRIMARY HEALTH PROPERTIES PLC

("PHP", the "Group" or the "Company")

Primary Health Properties PLC, the UK's largest independent provider of modern primary healthcare facilities, announces that its wholly owned subsidiary company, PHP Bond Finance plc, has today successfully listed the floating rate guaranteed secured bonds issued on 4 November 2013 (the "Bonds").

The Bonds have been admitted to the Official List of the UK Listing Authority and trading has commenced on the London Stock Exchange plc's regulated market (ISIN: XS0986853082). 

Bonds with a nominal value of £70 million were issued on 4 November 2013, to mature on or about 30 December 2025.  The proceeds are receivable in two instalments with £59,999,800 having been funded on issue and the remaining £10,000,200 to be received on 30 June 2014.  The Bonds will incur interest on the paid up amount at an annualised rate of 220 basis points above six month LIBOR, payable semi-annually on or about 30 June and 30 December of each year until maturity.  The first interest period will run from the date of issue to 30 June 2014.

Copies of the prospectus in respect of the Bonds are available from the Company's registered office or from the office of the Paying Agent, Elavon Financial Services Limited, Fifth Floor, 125 Old Broad Street, London EC2N 1AR.

Harry Hyman, Managing Director of Primary Health Properties, commented:

"This is the Group's first foray into institutional debt capital markets and illustrates the growing attractiveness of our business fundamentals to a widening pool of capital providers.  The Bonds secure a new source of longer term finance to extend the average maturity of our facilities."

For further information, please see PHP's website: www.phpgroup.co.uk or contact:

Primary Health Properties PLC                        +44(0) 20 7451 7050

Harry Hyman, Managing Director

Phil Holland

Bell Pottinger                                                  +44(0) 20 7861 3232

David Rydell / Victoria Geoghegan / Elizabeth Snow

Independent Debt Capital Markets                  +44(0) 20 7054 0500

Stuart Bell, Elise Huttenga

This information is provided by RNS

The company news service from the London Stock Exchange

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