Assura unveils plans for £100m share placing
20 June, 2017
category: Property News
Warrington-headquartered healthcare property developer Assura has unveiled plans for a £100m share placing to take advantage of investment opportunities in the market.
Assura’s board believes that the placing will enable the company to fund its near-term pipeline of acquisition and development opportunities as well as provide the necessary financial headroom to continue to maintain a low loan-to-value (LTV) ratio. As of 31 March 2017, the company had an immediate pipeline of £86m of acquisition opportunities and £67m of development opportunities.
Following the deployment of the anticipated proceeds of the placing, the company will have access to a further £200m of existing debt capacity to invest in further property acquisitions before reaching the mid-point of its medium-term LTV guidance range of 40 to 50 per cent.