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Gateway revises convertible bonds deal with Healthway

Coupon for both tranches of notes is being removed, S$10m tranche will now mature in 5 years instead of 2: sources

Published Sun, Mar 19, 2017 · 09:50 PM
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Singapore

AMID a takeover tussle for ailing Healthway Medical Corporation (HMC) that is heating up, Gateway Partners has revised its convertible notes deal with the private clinic operator to ensure it gets liquidity fast.

Sources close to the transaction told The Business Times that Gateway is removing the coupon for both the first and second tranches of S$10 million and S$60 million convertible notes respectively.

The revised terms also see that the S$10 million will now mature …

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