Thomson Medical issues S$30 million worth of notes at 5.5% interest

THOMSON Medical Group has issued S$30 million worth of notes that mature in 2028 at 5.5 per cent interest.

The notes will be consolidated with some S$120 million worth of existing notes due in 2028 – which were issued on May 31 – to form a single series. They are part of the group’s S$1 billion multi-currency debt-issuance programme, which was established on Jun 28, 2019, and updated on Apr 21 this year.

Interest is payable semi-annually in arrears. The notes will mature five years from May 31, 2023.

Net proceeds from the issue of these notes will be used for general corporate purposes, Thomson Medical said. This includes the refinancing of borrowings, financing potential acquisitions, strategic expansions, general working capital, capital expenditure and other investments.

UOB has been appointed as the sole dealer for this tranche of notes, which is expected to be listed on the Singapore Exchange on Jul 21.

Shares of Thomson Medical closed unchanged at S$0.061 on Monday, before the announcement.