Assura voluntarily lowers RCF by £100m
By Iain Gilbert
Date: Thursday 29 Jul 2021
(Sharecast News) - Property business Assura gave notice on Thursday that it will voluntarily cancel £100.0m of its existing £225.0m revolving credit facility.
The FTSE 250-listed firm stated that following the cancellation, its revolving credit facility will stand at £125.0m, all of which was currently undrawn and will run until November 2024.
Chief financial officer Jayne Cottam said: "Our recent successful sustainability and social bond issuances have demonstrated the range of debt markets that Assura can now access, reflecting the strength of our business model, our balance sheet and our A- rating from Fitch.
"We have therefore taken the opportunity to further reduce our revolving credit facility to £125.0m in order to improve the efficiency of our funding profile."
As of 0930 BST, Assura shares were up 0.19% at 78.55p.
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