9 Feb 2012 12:06
For immediate release | 9 February 2012 |
MedicX Fund Limited
("MedicX Fund", "the Fund" or "the Company")
Completion of new debt facility
MedicX Fund Limited (LSE: MXF), the specialist primary care infrastructure investor in modern purpose-built primary healthcare properties in the United Kingdom, today announces that the Group has now completed its 20-year debt facility of £50 million with Aviva Public Private Finance Limited announced on 8 December 2011. The facility will be interest only for the first ten years, and then amortises to £30 million over the second ten years with the remaining principal amount repayable on expiry of the facility. The interest rate is fixed at 4.37% for the duration of the loan.
Including this new facility the average all-in fixed rate of debt for the Fund is 4.48% with an average unexpired term of 18.7 years.
David Staples, Chairman said "We are delighted to announce completion of this new long-term facility at a very attractive rate compared with our acquisition yields. The additional debt, together with the new equity raising in progress, will put the Fund in a position to take full advantage of its healthy pipeline and pursue further acquisition opportunities."
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For further information please contact:
MedicX Group +44 (0) 1483 869 500
Keith Maddin, Chairman
Mike Adams, Chief Executive Officer
Mark Osmond, Chief Financial Officer
MedicX Fund +44 (0) 1481 723 450
David Staples, Chairman
Buchanan +44 (0) 20 7466 5000
Charles Ryland / Suzanne Brocks
Information on MedicX Fund Limited
MedicX Fund Limited ("MXF", the "Fund" or the "Company", or together with its subsidiaries, the "Group") is the specialist primary care infrastructure investor in modern, purpose-built primary healthcare properties in the United Kingdom, listed on the London Stock Exchange, with a portfolio comprising 65 properties.
The Investment Adviser to the Company is MedicX Adviser Ltd, which is authorised and regulated by the Financial Services Authority and is a subsidiary of the MedicX Group. The MedicX Group is a specialist investor, developer and manager of healthcare properties with 26 people operating across the UK.
The Company's website address is www.medicxfund.com. Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website), nor the contents of any website accessible from hyperlinks within this announcement, are incorporated into, or forms part of, this announcement.