This article is from the Australian Property Journal archive
THE Australian Unity Healthcare Property Trust (AUHPT) has completed its inaugural issuance of senior, unsecured, six-year fixed-rate medium-term notes, raising $275 million.
Proceeds will be used to repay and cancel a shorter-term $250 million bank debt tranche due to reach maturity in May next year.
Chris Smith, general manager for healthcare property at Australian Unity, said the outcome is an Australian first for healthcare property funds.
“It’s a significant validation of AUHPT’s maturity, scale and investment strategy as a leading unlisted healthcare REIT.
“For unitholders, the introduction of A$ medium-term notes debt into our capital management strategy means we can diversify our funding sources, lengthening our debt maturity profile, while giving us access to debt capital markets that will meet our future needs.”
The joint lead managers of the issue were ANZ, Commonwealth Bank and Mizuho Securities Asia.
AUHPT this year completed a $334 million capital raise, opened its $44 million Matilda Nepean Private Hospital, $140 million Sunshine Private Hospital, and Kellyville Medical Centre, reached completion of the Brisbane Waters Private Hospital expansion, as hit key construction milestones at development sites such as Wyvern Private Hospital in Terrey Hills, NSW, which will open in mid-2024.
