Impact Healthcare REIT has signed a new £26m revolving credit facility with NatWest, its first funding line using the SONIA benchmark.
The new three-year funding line can be upsized to £50m via an accordion agreement, and can also be extended for a further two years. It is priced with a margin of 190 basis points over SONIA, equal to about 1.95% a year.
The deal is the care home investor’s first to be priced using the SONIA benchmark, and is now in discussions with its other lenders, HSBC and Clydesdale, about transitioning its facilities with them to SONIA from LIBOR.
