TORONTO, Oct. 22, 2021 /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 a credit agreement with a
syndicate of banks regarding US$200
million of revolving credit facilities ("the Facilities").
An initial draw on the Facilities will be used to fully retire the
existing senior secured notes issued by a subsidiary of the Trust,
with future draws expected to be used to fund future acquisitions
of royalty assets. The Facilities have a three-year term and are
secured by all of the assets of the Trust and most of its
subsidiaries.
![DRI Healthcare Trust (CNW Group/DRI Healthcare Trust) DRI Healthcare Trust (CNW Group/DRI Healthcare Trust)](https://mma.prnewswire.com/media/1667455/DRI_Healthcare_Trust_DRI_Healthcare_Trust_Announces_US_200_Milli.jpg)
"Obtaining these facilities is another significant milestone for
DRI, providing capital and flexibility to execute our growth
strategy," stated Behzad
Khosrowshahi, Chief Executive Officer of DRI Healthcare
Trust. "Over the past several months, we have demonstrated our
ability to source attractive, accretive transactions that meet our
target criteria. These new credit facilities, combined with the
strong cash flow generated from our assets, positions us well to
continue 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.
Canada Branch, and National Bank
of Canada.
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