Westminster issues bonds to securitise Priory

Posted on May 1st, by editor in Caring Times. No Comments

Westminster Healthcare has floated a £115 million bond issue to securitise its Priory group of 28 mental health facilities. Westminster’s chief executive dr Chai Patel; said that while asset backed securitisations were common in the long term care sector, this was the first time a bond issue had been used for securitisation in the mental health sector. Westminster bought the Priory six months ago for £100 million from Mercury Private Equity, part of the Mercury fund management group. Barclay’s Capital is handling the current bond issue.

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