Impact Healthcare has secured a £25m extension to its revolving credit facility with HSBC, taking the total to £75m.
The care home-focused REIT has simultaneously cancelled its £15m RCF agreement with Metro Bank.
The HSBC extension was secured using assets released from the Metro security pool. Overall, this increases Impact’s headroom by £10m and reduces the margin to 200bps, 65bps lower than the Metro facility.
The HSBC facility has a term to April 2025, meaning that Impact now has just £15m of debt expiring within the next 12 months, which is the remainder of its loan from Metro. Impact plans to pay this using the headroom from its remaining RCF facilities.
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