LONDON (Alliance News) - Primary care infrastructure investor MedicX Fund Ltd Tuesday said it has raised GBP50 million via a private placement of five-year loan notes with a single institutional investor.
The firm said the GBP50 million loan notes mature in August 2019, adding the all-in interest rate on the notes is fixed at 3.8%.
The funds from the new facility will be drawn in two phases, with GBP15 million to be drawn immediately and GBP35 million in December 2014. The funding will be secured against properties, MedicX said.
"This additional debt diversifies our lender base and, together with the existing GBP25 million revolving loan facility we have in place, will enable the fund to commit to additional new investments and to take advantage of its healthy pipeline of acquisition opportunities," said MedicX Chairman David Staples.
MedicX shares were down 1.2% to 83.51 pence on Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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