Medicx Fund Regulatory News (MXF)

4 Dec 2006 07:01

The MedicX Fund Limited04 December 2006 For immediate release 4th December 2006 MedicX Fund Limited ("MedicX Fund", "the Fund" or "the Company") Debt of £100 million arranged on favourable terms The MedicX Fund, which invests mainly in modern purpose built primary healthcare properties which on 2 November 2006 raised £55.9 million and listed on theOfficial List of the London Exchange, announces that it has secured debt of £100million from Norwich Union, an Aviva Plc Company. As indicated at the time of the IPO, the MedicX Fund was looking to secure bankfacilities and is now delighted to announce that this has been achieved with thesupport and agreement of Norwich Union. The terms of the £100 million loan are at an all in fixed rate of 5.0% per annumwith interest only being payable up until the expiry of the thirty year term.The loan can be used to finance acquisitions of completed primary careproperties as well as forward fund the development of new primary careproperties, with no differentiation for completed or forward funded properties.These terms are more favourable than the illustrative assumptions made in MedicXprospectus. Norwich Union are experienced lenders in the sector and the termsoffered demonstrate their long term confidence in this asset class. Keith Maddin, Chairman of the MedicX Group commented: "I am delighted to announce the details of this £100 million loan, we lookforward to pursuing our growth strategy with the support of Norwich Union" For further information please contact: MedicX Group +44(0) 1252 704 272Keith Maddin, ChairmanMike Adams, Managing Director Buchanan Communications +44 (0) 20 7466 5000Charles Ryland / Lisa Baderoon / Mary-Jane Johnson This information is provided by RNS The company news service from the London Stock Exchange