– Significantly enhances deployment capacity
without increasing leverage parameters –
TORONTO, Oct.
31, 2023 /CNW/ - DRI Healthcare Trust (TSX: DHT.UN)
(TSX: DHT.U) (the "Trust"), a global leader in providing
financing to advance innovation, entered into an amendment
agreement to the existing amended and restated credit agreement
(the "Agreement") with a syndicate of banks providing up to
US$500 million of debt capacity. The
Facilities have a maturity date of October
31, 2026, and are secured by all of the assets of the Trust
and most of its subsidiaries.
"We are very pleased to see ongoing strong support from our
syndicate of top-tier lenders and we are pleased to welcome The
Toronto-Dominion Bank as our newest syndicate partner," stated
Behzad Khosrowshahi, Chief Executive
Officer of DRI Healthcare Trust. "Coupled with the funds secured
from our recent follow-on offerings, this increased debt capacity
will allow us to continue support innovation in the healthcare
eco-system. Having deployed US$421
million in the past twelve months, we are well-positioned to
execute on our robust US$3 billion
pipeline of high-quality opportunities."
The lending syndicate is comprised of Canadian Imperial Bank of
Commerce and HSBC Bank Canada as Co-Lead Arrangers and Joint
Bookrunners, and includes Bank of America, N.A., JPMorgan
Chase Bank, N.A., National Bank of Canada, Royal Bank of Canada, The Bank of Nova Scotia and The Toronto-Dominion Bank.
About DRI Healthcare
Trust
DRI Healthcare Trust is managed by DRI Capital Inc. ("DRI
Capital"), the pioneer in global pharmaceutical royalty
monetization with a more than 30-year history
of accelerating innovation by providing capital
to inventors, academic institutions and biopharma
companies. Since our founding in 1989, DRI Capital has deployed
more than US$2.5 billion, acquiring
more than 70 royalties on 40-plus drugs, including
Eylea, Keytruda, Orserdu, Spinraza, Stelara, Zejula and
Zytiga. 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". To learn more, visit drihealthcare.com or follow us
on LinkedIn.
SOURCE DRI Healthcare Trust
