Impact Healthcare REIT plc (IHR), which undertook an initial public offering (IPO) on the London Stock Exchange in 2017, owns a portfolio of care homes, which provide essential health and social infrastructure for some of the UK’s most vulnerable people. As a key long-term capital provider, IHR enables its tenants – care providers across the UK – to continually invest in its homes, helping to future-proof the buildings while in turn giving residents security and stability. 

Adding beds to their existing homes and developing new homes to provide much-needed extra capacity in the UK care system is another priority of IHR’s business strategy. Furthermore, through its investments, IHR aims to improve the services offered to residents at its care homes, including the provision of more specialist facilities for people with particular care needs, such as dementia. 

Looking to secure additional liquidity to fund its growth, and pleased with NatWest’s proactivity and ongoing dialogue about most suitable funding options, IHR worked with NatWest to explore a possible uplift and extension of an existing £26 million 3-year +1+1 bilateral Revolving Credit Facility (RCF).  

After detailed discussions about IHR’s continued strong performance, growth strategy and resulting financing requirements, the NatWest deal team increased the existing RCF by £24 million, making the total facility £50 million. In addition, NatWest agreed to extend the increased RCF from June 2024 to June 2028, with a further two one-year extension options to June 2030.

David Yaldron, Finance Director at IHR, commented: “We are pleased to have secured this increase of our facility with NatWest, and we are grateful for the bank’s commitment and their relationship approach, underlining their position as a supporter of Impact and our business and growth strategy, and the wider UK care home sector.”

Chris Lewis, UK Financing Solutions Director, Midlands & East of England at NatWest, said: “We’re delighted to be able to help support the provision of additional care home capacity, by providing an uplift and extension to IHR’s RCF.  This transaction is another example of multiple specialist teams within our bank working closely together as One Bank to ensure the best outcome for our customer.”