Primary Health Properties PLC announced that it has entered into a renewal and extension of a facility with Aviva and a new facility with Lloyds Bank PLC. Aviva have agreed to renew a £75 million secured loan facility for just under 11 years to November 2028 at a fixed interest of 3.10% per annum. The existing Aviva facility, due to mature in November 2018, bears interest at a fixed 4.00% and the renewal will result in interest savings of £675,000 per annum to the Company. The new £30 million secured revolving credit facility with Lloyds Bank plc, is for an initial three year period, with the option to extend by two further years, at rates ranging from 155bp to 175bps over LIBOR depending on utilisation. The Lloyds facility may be drawn in either Sterling or Euros at PHP's option. The facility will be used to fund further acquisitions from the Company's strong pipeline of acquisition opportunities both in the UK and Republic of Ireland. These debt transactions extend the average weighted maturity of PHPs debt facilities to 6.3 years (30 June 2017: 5.8 years; 31 December 2016: 5.1 years) and the average cost of debt on its facilities drawn has been reduced to 4.09% (30 June 2017: 4.26%; 31 December 2016: 4.65%).