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Q & M Dental offers S$500m multicurrency debt issuance programme
Q & M Dental Group (Singapore) Limited has offered a S$500 million multicurrency debt issuance programme that may issue notes and perpetual securities from time to time.
The dental clinic operator said in a late Tuesday bourse filing that under the programme, notes may be issued in any currency, in various amounts and tenors, and may bear interest at fixed, floating, variable, hybrid or other rates, or not bear any interest.
Perpetual securities may be issued in any currency, in various amounts, and may confer a right to receive distribution at fixed or floating rates, in each case as may be agreed between the relevant dealers of the securities and the issuer.
The group said that the net proceeds arising from the issue of the securities under the programme will be used for "general corporate purposes", including financing acquisitions and investments, refinancing of borrowings and financing of working capital and capital expenditure requirements of the issuer and its subsidiaries.
On Monday, Q & M Dental Group said that its subsidiary, Q & M Medical Group Singapore (QMGS), is selling its medical aesthetic and laser unit for S$242,000.
It entered into an agreement with a Dr Felix Li Jingxiang on Nov 28, to dispose all of its shares in Q & M Medical Aesthetic & Laser Centre (QMAL).
A sum of S$50,000 had been paid on Dec 1, with the completion of the share disposal, while the remaining amount will be payable via monthly instalments of S$12,000 over a period of 16 months from the date of completion of the share disposal.
No reason was given for the proposed disposal.
Q&M opened at S$0.625 on Wednesday.