Primary Health Properties PLC announced that it has refinanced a number of legacy loan facilities with Aviva Investors, with a new ?200 million facility for a 15-year term at a fixed rate of 2.52% and renewed its existing ?100 million facility with NatWest. The Group has secured a new ?200 million 15-year debt facility with Aviva Investors at a fixed rate of 2.52%. Sustainability KPIs have been incorporated into the new loan based around PHP's existing built environment targets. These focus on the portfolio's EPC ratings and new developments being built to BREEAM standards. The Group will benefit from a margin reduction on the new ?200 million facility, conditional on achieving these targets. The proceeds of the loan have been used to repay a number of legacy facilities with Aviva Investors totalling ?177 million at a blended fixed rate of 5.0% and weighted average term of just under six years. As part of the refinancing a termination cost of ?24 million has been paid. The Group has renewed its existing ?100 million revolving credit facility for a further three-year term with options to extend by a further year on the first and second anniversaries of the new facility. Sustainability KPIs have also been incorporated into the new facility based around PHP's existing built environment targets and the Group will benefit from a margin reduction, conditional on achieving these targets. In total, these arrangements reduce the Group's current average cost of debt from 3.4% to 2.9%, the marginal cost of debt remains at 1.7%, and results in interest cost savings of approximately ?5 million p.a., extending the weighted average debt maturity to 7.0 years. The Group continues to have significant headroom, after capital commitments, with cash and undrawn loan facilities of ?237 million.