DRI Healthcare Trust Announces Upsized US$631.6 Million Credit Facilities

– Enhances deployment capacity without increasing leverage parameters –

– Sufficient funding to achieve 2025 deployment target –

– Marginal decrease in interest rate and standby fees –

TORONTO, Nov. 1, 2024 /CNW/ - DRI Healthcare Trust (TSX: DHT.UN) (TSX: DHT.U) (the "Trust"), a global leader in providing financing to advance innovation in the life sciences industry, has entered into an amendment agreement to the existing amended and restated credit agreement (the "Agreement") with a syndicate of banks providing up to US$631.6 million of debt capacity. As part of the amendment, the interest rate on drawings was reduced by 0.25% based on the Trust's leverage ratio. The facilities are secured by all of the assets of the Trust and most of its subsidiaries, and the maturity date has been extended to November 1, 2027, three years from the date of closing.

"We are fortunate for the ongoing strong support from our syndicate of top-tier lenders," said Amit Kapur, Chief Financial Officer of the Trust. "We have a solid and diversified capital structure, and this enhanced funding will help us continue executing our investment strategy. We have deployed over US$185 million this year and still have nearly US$300 million undrawn on the facilities. With a robust pipeline of opportunities ahead of us, we are confident we can achieve, and hopefully exceed, our US$1.25 billion deployment target by the end of 2025 solely with the funding currently available to us."

The lending syndicate is comprised of Canadian Imperial Bank of Commerce and Royal Bank of Canada as Co-Lead Arrangers and Joint Bookrunners, and includes Bank of America, N.A., JPMorgan Chase Bank, N.A., National Bank of Canada, The Bank of Nova Scotia and The Toronto-Dominion Bank.

About DRI Healthcare Trust 

The Trust is managed by DRI Capital Inc. ("DRI Healthcare"), a pioneer in global pharmaceutical royalty monetization. Since its initial public offering in 2021, the Trust has deployed more than US$900 million, acquiring more than 25 royalties on 20-plus drugs, including Eylea, Orserdu, Omidria, Spinraza, Stelara, Vonjo, Zejula and Zytiga. The Trust's units are listed and trade on the Toronto Stock Exchange in Canadian dollars under the symbol "DHT.UN" and in U.S. dollars under the symbol "DHT.U". To learn more, visit drihealthcare.com or follow us on LinkedIn.

SOURCE DRI Healthcare Trust