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Lifestyle Communities Ltd ( (AU:LIC) ) has provided an update.
Lifestyle Communities Limited has restructured and resized its debt arrangements, securing a $300 million note purchase and private shelf facility from PGIM Inc. and a $125 million revolving bank debt facility from National Australia Bank to refinance existing borrowings and support ongoing operations. The new long-term facilities simplify the company’s financing structure, extend average debt tenor, reset key covenants including a temporary removal of the interest cover ratio until mid-2028, and lower near-term loan-to-value thresholds, providing funding certainty as it navigates a recovering Victorian property market despite higher interest costs, and positioning the business for an anticipated uplift in the next property cycle.
The most recent analyst rating on (AU:LIC) stock is a Buy with a A$7.00 price target. To see the full list of analyst forecasts on Lifestyle Communities Ltd stock, see the AU:LIC Stock Forecast page.
More about Lifestyle Communities Ltd
Lifestyle Communities Limited is a Melbourne-based developer, owner and manager of affordable independent living residential land lease communities in Victoria. The company has 29 communities at various stages of contract, planning, development or management, and provides homes for more than 5,800 residents across the state, focusing on affordable housing for older Victorians seeking downsized, community-style living.
Average Trading Volume: 215,203
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$655.2M
See more insights into LIC stock on TipRanks’ Stock Analysis page.