11:25 AM EDT, 11/01/2024 (MT Newswires) -- DRI Healthcare Trust (DHT-UN.TO) on Friday said it amended an existing credit agreement with a syndicate of banks providing up to US$631.6 million of debt capacity.

The trust said interest rate has also been cut by 0.25% based on the Trust's leverage ratio. The credit facilities are secured by all of DRI Healthcare assets, 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."

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