Radius Care extends debt maturity, reduces financing costs

Radius Residential Care (NZX:RAD) announced an extension of its core debt facilities' maturity to three years, accompanied by reduced margin and line fees. According to Jeremy Edmonds, Radius Care's Chief Financial Officer, the extension demonstrates confidence in the company's financial performance and growth strategy. The revised terms will lower Radius Care's effective interest rate by approximately 50 basis points. Combined with ongoing floating rate reductions announced on June 13, total financing costs are projected to decrease by at least NZD $1 million in the current fiscal year. Radius Residential Care operates 24 aged care facilities throughout New Zealand and provides essential healthcare services to elderly New Zealanders.