Ryman Healthcare (ASX:RYM, NZE:RYM) said it is evaluating a proposed issuance of six-year fixed-rate, secured and unsubordinated bonds to institutional and New Zealand retail investors, backed by a guarantee and security package from its guaranteeing group, according to a Wednesday filing with the Australian and New Zealand bourses.
Existing holders of the company's RYM010 quoted bonds in custodial accounts may exchange some or all holdings into the new bonds at par on a one-for-one basis, subject to allocation and approval by the company and the relevant bookbuild participant, per the filing.
Exchanged bonds will be cancelled, reducing RYM010 supply, and trading is expected to be temporarily suspended during the new bonds' rate-setting and initial quotation period, the filing said.
The offer is anticipated to open in the week commencing June 8, subject to a successful bookbuild, the filing added.