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Healthway Medical opts for Gateway's revised notes deal

It involves change in investment structure; the S$70m, to be issued in two tranches, will be fully convertible notes

Published Thu, Mar 23, 2017 · 09:50 PM
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Singapore

FOLLOWING extensive discussions, Healthway Medical Corporation (HMC) has picked private-equity fund Gateway Partners' revised deal over a loan offer by Lippo Group's entity to solve its cash crisis.

The private-clinic operator has agreed to a revised convertible notes deal with Gateway, based on the overall lower cost of funding and the speed of fund disbursement to meet its immediate liquidity needs.

The revised deal involves a change in investment structure, the company said in Singapore Exchange (SGX) filings on Thursday.

The entire S$70 million will now be fully convertible notes and will be issued in two tranches of S$10 million and S$60 million.

Previously, the second tranche of S$60 …

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