Re-financing of funding facilities

RNS Number : 7794C

Spire Healthcare Group PLC

25 February 2022

 

Spire Healthcare Group plc

("Spire Healthcare", "the Company" or "the Group")

Re-financing of funding facilities

25 February 2022

Spire Healthcare Group plc (LSE: SPI), a leading UK independent hospital group, announces that it has re-financed the Group's existing bank funding facilities, which previously comprised a Senior Loan Facility of £425m and an undrawn Revolving Credit Facility ("RCF") for £100m. These facilities were due to expire in July 2023. As part of this process, the Group has taken this opportunity to pay down £100m of the Senior Loan Facility. The new arrangement, provided by a supportive group of nine relationship banks, comprises a Senior Loan Facility of £325m and an undrawn RCF of £100m until February 2026 (with an option to extend one year). The covenants are unchanged.

The new facilities include a sustainability-linked element linked to environmental and quality factors, the first of its kind amongst UK independent hospital providers.

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For further information please contact:

Spire Healthcare

Angus Prentice - Interim Head of Investor Relations  [phone]

Instinctif Partners

Damian Reece  [phone]

Guy Scarborough  [phone]

Jeremy Durrant    [phone]

Registered Office and Head Office:

Spire Healthcare Group plc

3 Dorset Rise

London

EC4Y 8EN

Registered number 09084066

About Spire Healthcare

Spire Healthcare is a leading independent hospital group in the United Kingdom, with 40 private hospitals and eight clinics across England, Wales and Scotland.

Working in partnership with around 8,150 experienced consultants, Spire Healthcare delivered tailored, personalised care to almost 870,000 in-patients and daycase patients in 2021, and is the leading private provider, by volume, of knee and hip operations in the United Kingdom.

The Group's well-located and scalable hospitals have delivered successful and award-winning clinical outcomes, positioning the Group well with patients, consultants, the NHS, GPs and Private Medical Insurance ("PMI") providers. 95% of Spire Healthcare's hospitals are rated 'Good' or 'Outstanding' by the CQC (or the equivalent in Scotland and Wales).

Spire Healthcare treats patients through a variety of routes including PMI, Self-pay and the NHS, providing the Group with diversified access to the expected growth opportunities in the UK healthcare market, which faces significant supply challenges as a result of NHS budget constraints and increasing demand from a growing population with longer life expectancy.

 

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