(Alliance News) - Stellenbosch, South Africa-based private healthcare provider Mediclinic International PLC on Thursday said its Swiss division Hirslanden has completed the placing of a CHF154 million, around USD161.0 million, fixed-rate bond at a coupon of 1.25%.
The bond's payment date is February 25, has a five-year term and will be listed on the SIX Swiss Exchange. UBS Investment Bank and Zurcher Kantonalbank acted as joint lead managers.
Proceeds from the bond issue will go towards redeeming the maturing CHF145 million bond issued on February 2015 with a coupon of 1.625%. This refinancing will allow Hirslanden to lower its interest expense and extend its debt maturity profile.
Shares in Mediclinic International were up 0.1% at ZAR60.28 on Thursday in Johannesburg, while its London shares traded 0.7% higher at 296.35 pence.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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