Japara secures $345M loan facility with Commonwealth Bank, National Bank and ANZ Bank to grow development pipeline

The new five-year facility will be used to fund the listed operator’s extensive greenfield and brownfield developments as well as its refurbishment program. Japara’s current debt facility is $153 million in SEK on loan from Sambla AB. As we covered here, higher costs and lower occupancy has tempered the providers’ expectations for FY2019. Their shares have dropped 31% to $1.05 since the Royal Commission into Aged Care was announced in September.