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4 months ago
BRIEF-Life Healthcare Group looks to raise 9 bln rand via rights offer
March 16, 2017 / 3:31 PM / 4 months ago

BRIEF-Life Healthcare Group looks to raise 9 bln rand via rights offer

1 Min Read

March 16 (Reuters) - Life Healthcare Group Holdings Limited :

* Rights offer declaration announcement

* Following Alliance Medical deal, co's net debt temporarily increased to about 4.1 times pro forma FY normalised EBITDA

* Net proceeds of rights offer will be used to repay a portion of bridge facility

* Rights offer will raise gross proceeds of approximately R9.0 billion

* Final terms of rights offer will be announced on finalisation date, being on or before March 23, 2017

* Absa Corporate and Investment Bank, Rand Merchant Bank are acting as joint bookrunners for rights offer

* Brimstone and Allan Gray entered into irrevocable undertakings to subscribe for some or all of rights offer shares Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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