Aberdeen Standard Investments has backed Primary Health Properties (PHP) with a €20m loan to help grow PHP’s portfolio.

The asset manager said its corporate private placement debt team has provided the “euro-denominated” finance to the FTSE 250 listed UK and Irelan healthcare facilities investor. Aberdeen Standard made deal on behalf of its clients.

Albane Poulin in charge of corporate private placements at Aberdeen Standard Investments, said: “PHP’s long-term leases to the NHS and other health authorities ensure a sustainable stream of uncorrelated cash flows for our clients.

“Furthermore, we are excited to increase our exposure to euro-denominated opportunities, an area in which many clients are interested.”

Harry Hyman, the managing director of Primary Health Properties, said: “We will use the funds to progress our disciplined strategy of growing PHP’s portfolio, particularly in Ireland, through the acquisition of well-priced, strategic assets that will provide strong income returns and the potential for asset growth whilst maintaining a prudent level of gearing.”