Sonic Healthcare Raises EUR160m of Long Term Debt Funding

Sonic Healthcare Limited (ASX: SHL; ADR: SKHHY) has announcedthat as part of refinancing expiring bank debt facilities, Sonic has issued €160 million of notes in the United States private placement market. €75 million of the notes have a 7 year tenor, and €85 million have a 15 year tenor, significantly lengthening Sonic’s debt maturity profile. The weighted average fixed coupon for the notes is approximately 2%.

Chris Wilks, Sonic’s Finance Director and Chief Financial Officer said “We are delighted with the success of our latest issue into this market. The transaction received strong support from both existing investors and a new investor to Sonic. There are a limited, but growing, number of participants in this market who provide “natural” (without swap breakage requirements) Euro funding. This market will continue to be an attractive source of funding for Sonic into the future, as we continue our growth strategies.”

The remainder of Sonic’s October 2017 expiring bank debt facilities have been refinanced through a new 5.5 year revolving bank facility.

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