Radius Care agrees new banking facilities

22 September 2021 Radius Care agrees new banking facilities Radius Residential Care Limited (NZX:RAD) ("Radius Care") is pleased to announce that it has entered into a committed terms sheet with its banking partner ASB to restructure and increase its current facilities. The restructuring will see Radius Care's existing debt of $18.8m increase to a total facility size of up to $62 million, and includes the entry into of the following new five year facilities: o a $20 million facility to fund existing developments and for general corporate purposes; o a $20 million development finance facility to support new and existing developments; and o a $20 million acquisition funding facility to support new acquisitions. o In addition Radius Care retained $6.3m of cash from its recent capital raise to fund growth. Radius Care's Executive Chair and Managing Director Brien Cree said "We are pleased to have agreed terms with ASB to provide us with increased funding flexibility to continue to target acquisitions of strategically important and attractive facilities as well as advancing our plans for further greenfield and brownfield developments." The new facilities are subject to entry into of formal documentation with ASB. Radius Care advises that the term of the escrow arrangements described in its December 2020 Listing Profile including Radius Care, ASB, Wave Rider Holdings Limited Knox Fund IV NZD LP and Knox Fund IV AUD LP have expired. Accordingly, the shares in Radius Care held by Wave Rider Holdings Limited, Knox Fund IV NZD LP and Knox Fund IV AUD LP have been released from the restrictions under those escrow arrangements. Executive Chair and Managing Director Brien Cree ENDS Media and Investor Contact: Brien Cree Executive Chair and Managing Director Phone: +64 021 955 769 Email: brien.cree@radiuscare.co.nz About Radius Care Radius Care was founded in 2003 and operates in the New Zealand aged care and retirement village sectors. It is a nationwide provider offering the full range of accommodation and care options giving residents the ability to "age in place". Today, Radius Care operates 22 aged care facilities, of which it owns seven and leases 15. It also owns and operates two retirement villages and an online shop for specialist assisted-living products. The company employs over 1,500 people, including highly qualified healthcare staff who are committed to providing the very best in nursing care. For more information visit radiuscare.co.nz or check our Facebook page @RadiusCareNZ. End CA:00379545 For:RAD Type:GENERAL Time:2021-09-22 08:30:51