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Pin to quick picksDuke Capital Share News (DUKE)

Share Price Information for Duke Capital (DUKE)

London Stock Exchange
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Share Price: 30.25
Bid: 30.00
Ask: 30.50
Change: 0.25 (0.83%)
Spread: 0.50 (1.667%)
Open: 30.00
High: 31.10
Low: 30.00
Prev. Close: 30.00
DUKE Live PriceLast checked at -

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Duke Royalty diversifies with Canadian health deal

Thu, 30th Aug 2018 14:49

(Sharecast News) - Alternative capital solutions provider Duke Royalty has entered into a £10m royalty financing agreement with InterHealth Canada Holding Corporation (ICHC), it announced on Thursday.The AIM-traded firm said ICHC is the wholly owned subsidiary of a 24-year-old Canadian-based organisation InterHealth Canada, which specialises in the development, commissioning and management of healthcare facilities in various countries around the world.It would be the largest partner that Duke had funded to date.The company's board said that, as its fifth royalty partner, the transaction broadened Duke's revenue base and increased its portfolio diversification, thereby reducing risk for investors.It added that it also further validated royalty finance as a preferable source of finance for "well established, profitable" businesses in Europe and abroad.The deal was the first deal to be completed in healthcare services, one of Duke's preferred and target sectors due to what it described as the "reliable and recurring" nature of revenuesIt said the initial cash-on-cash yield of more than 13% per annum via monthly payments would be immediately payable post closing of the investment.The deal consisted of 30-year secured financing, with distributions to be adjusted annually to reflect InterHealth Canada's consolidated revenue growth."I am delighted to announce this transaction with ICHC," said Duke chief executive officer Neil Johnson."With its exciting future growth plans and its long-term profitable operating history, ICHC represents an ideal long-term partner for Duke."Importantly, ICHC is the largest company with which Duke has transacted to date and, given that it represents our first investment in the healthcare services sector, we are pleased to have further diversified and de-risked the existing Duke portfolio."
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Duke Capital expects quarterly revenue growth amid market uncertainty

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Duke Capital flags another rise in recurring cash revenue

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