Target Healthcare REIT Limited and its subsidiaries announced it has secured a Revolving Credit Facility of £40 million from HSBC Bank plc. The RCF has a margin of 170 basis points over 3 month LIBOR which is currently equivalent to a total interest cost of 2.23% per annum and an all-in cost of 2.81% per annum. The facility agreement contains a typical security package including loan to value and interest cover ratio covenants which are broadly in-line with the Group's existing debt arrangements. The RCF has an initial three year term also provides an option of two one year extensions thereafter, subject to the consent of HSBC. The Group's existing £50 million committed term loan and revolving credit facility with The Royal Bank of Scotland plc, which is repayable in September 2021, remains in place. The £40 million committed term loan facility with First Commercial Bank, Limited, which is repayable in August 2022 also remains in place.