TORONTO, April 20, 2022 /CNW/ - DRI Healthcare Trust (TSX:
DHT.UN) (TSX: DHT.U) ("DRI" or "the Trust") announced today that a
subsidiary of the Trust has entered into an amended and restated
credit agreement (the "Amended Agreement") with a syndicate of
banks regarding US$350 million of
credit facilities (the "Facilities"). The Amended Agreement
increases the capacity of the credit facilities announced on
October 22, 2021, through a new
tranche consisting of a delayed draw term loan of US$150 million. The Facilities have a maturity
date of October 22, 2024, and are
secured by all of the assets of the Trust and most of its
subsidiaries. As at the date hereof, US$71.0
million is drawn on the Facilities.
"We are very pleased to have the continued support of our
lenders as we pursue our growth strategy," stated Behzad Khosrowshahi, Chief Executive Officer of
DRI Healthcare Trust. "Given the robust activity in our market,
this additional capital positions us well to act on opportunities
to grow our portfolio."
The lending syndicate is comprised of Canadian Imperial Bank of
Commerce and HSBC Bank Canada as Co-Lead Arrangers, and includes
Royal Bank of Canada; The Bank of
Nova Scotia; Bank of America,
N.A.; National Bank of Canada; and
JP Morgan Chase Bank, N.A.
About DRI Healthcare
Trust
DRI Healthcare Trust provides unitholders with differentiated
exposure to the anticipated growth in the global pharmaceuticals
and biotechnology markets. Our business model is focused on
managing and growing a diversified portfolio of pharmaceutical
royalties and related assets with the aim to deliver attractive
growth in cash flow over the long term. DRI Healthcare Trust is an
unincorporated open-ended trust governed by the laws of the
Province of Ontario, externally
managed by its manager, DRI Capital Inc. DRI Healthcare Trust's
units are listed and trade on the Toronto Stock Exchange in
Canadian dollars under the symbol "DHT.UN" and in U.S. dollars
under the symbol "DHT.U".
SOURCE DRI Healthcare Trust