Fullerton Health issuing US$175m perpetual bond

Singapore

CORPORATE healthcare solutions provider Fullerton Health is issuing a US$175 million perpetual bond as it seeks to fund bigger acquisitions and expand its footprint into new markets.

The senior, unsecured and unsubordinated bond has a coupon of 7 per cent per year up to the first call date of 2020 and will be issued in denominations of US$200,000. After that, the distribution rate will reset every three years to a rate equivalent to the prevailing three-year US Treasury rate, plus initial spread plus 5 per cent.