£75,000,000 Senior Secured Fixed Rate Notes

IDCM arranged a £75 million Private Placement with an initial drawdown of £37 million and a delayed drawdown of £38 million. The notes were bought by two UK insurance companies.

This transaction marked Impact’s debut in the institutional debt market and is secured on a diversified portfolio of care home assets on long term operating leases, with the benefit of a corporate guarantee. We structured the transaction to the borrower’s current and future needs allowing them to lock into historically low rates while raising both cash for existing assets and for a pipeline of acquisitions that had an uncertain timeline.

Given the long-dated nature of the borrowing (14 years), we sought to ‘future proof’ the financing and included a feature that enables the security package to fall away in due course once certain pre agreed criteria are met.