New Zealand’s Ryman Healthcare is out with the biggest equity raising in the region this year - a $NZ902 million ($824) million recapitalisation to repay its US private placement debt.
Investment banks Macquarie and UBS have underwritten the retirement living group’s deal, which was structured as a one-for-2.81 pro rata entitlement offer at a 17.1 per cent discount to TERP.The term sheet said all proceeds would be used to reset Ryman’s capital structure to ensure it has sufficient funds to fuel its growth pipeline and repay all of its USPP notes.The brokers were calling for institutional acceptances by Thursday.
co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mississippi sees 900% rise in number of infants born with congenital syphilisMedical professionals attribute the increasing cases of disease to inadequate prenatal healthcare and understaffed workforce
Read more »
New Zealand smashed as Cyclone Gabrielle loomsEx-tropical Cyclone Gabrielle is causing chaos above New Zealand’s North Island as residents in the country’s biggest city are told to brace for more damaging weather.
Read more »
Signs of the times: Ordnance Survey to consult on new map symbolsMapmaker suggests symbols could be added for bike repair shops, dog waste bins or river access points
Read more »
Anne Boleyn’s reputation as ‘temptress’ to be recast in new exhibitionHenry VIII’s second wife was a deeply religious woman who resisted his advances for years, according to fresh research
Read more »
Wild winds, flooding and heavy rain to smash New Zealand as cyclone hitsTens of thousands of homes are already without power as New Zealand braces for the worst of Cyclone Gabrielle. tcgabrielle 7NEWS
Read more »
Cyclone Gabrielle: state of emergency in parts of New Zealand as storm approaches – liveFlights cancelled and severe weather warnings in place as category two cyclone threatens parts of North Island
Read more »