Mediclinic £350 million exchangable bond issue

Overview:

• Remgro Jersey, a subsidiary of Remgro Limited, placed £350 million 2.65% senior secured bonds due 2021.
• The bonds are exchangeable into shares of Mediclinic.
• The bonds will help refinance a credit facility which was originally used to finance the combination of Mediclinic International Limited and Al Noor Hospitals Group.
• Morgan Stanley and FirstRand acted as joint global coordinators and joint bookrunners. 
• The bonds were listed on the Frankfurt Stock Exchange and offered to institutional investors in South Africa and Malta. 
• Remgro Limited guaranteed the bonds. 

Rani Mehta - Journalist