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Impact Healthcare signs £50M loan facility

Impact Healthcare REIT PLC signed a new five-year loan facility with Metro Bank PLC, comprising a £25 million term loan and a £25 million revolving credit facility.

The entire term loan and £5 million of the revolving credit facility are secured over a portfolio of 30 care homes held by a subsidiary of the London-based company, according to a release.

The loan facility has a margin of 265 basis points plus Metro Bank's published base lending rate.

The term loan is repayable without penalty after two years, while a 1% penalty will apply if the facility is prepaid within the first two years. The revolving credit facility may be repaid at any time without penalty.