Ryman Healthcare (ASX:RYM, NZE:RYM) launched an offer for up to NZ$100 million of six-year fixed-rate secured unsubordinated bonds maturing on June 22, 2032, with the potential to accept up to NZ$50 million in oversubscriptions, according to a Monday filing with the New Zealand bourse.
The offer carries an indicative margin of 1.8% to 1.9% above the swap rate, subject to a minimum 5.6% annual interest rate, with final pricing to be set on Thursday after a bookbuild process, per the filing.
The new bonds are expected to be listed on the New Zealand Exchange debt market under the ticker "RYM020" following their issue on June 22, the filing said.
Existing holders of RYM010 bonds may be eligible to exchange their holdings into the new bonds on a one-for-one basis through an optional exchange mechanism, subject to allocation and agreement.
Proceeds will be used for debt repayment, refinancing of the RYM010 bonds, and general corporate purposes, a separate filing showed.