Sonic Healthcare places €160 million seven-, 15-year notes; Itafos places $32.37 million

By Angela McDaniels

Tacoma, Wash., Oct. 30 – Sonic Healthcare Ltd. announced a €160 million issue of notes in the U.S. private placement market, and Itafos has issued $32.37 million of 15% promissory notes.

Of Sonic’s new notes, €75 million have a seven-year tenor and €85 million have a 15-year tenor.

The weighted average fixed coupon for the notes is about 2%.

“There are a limited, but growing, number of participants in this market who provide natural (without swap breakage requirements) euro funding. This market will continue to be an attractive source of funding for Sonic into the future, as we continue our growth strategies,” Sonic finance director and chief financial officer Chris Wilks said in a company news release.

The notes and a new 5.5-year revolving credit facility were used to refinance the company’s expiring bank debt facilities.

Sonic is based in Macquarie Park, Australia, and provides laboratory medicine/pathology, radiology/diagnostic imaging and primary care medical services.

In a news release on Monday, Itafos said it received $14.25 million of advances evidenced by 15% promissory notes due Jan. 31, 2018.

Advances were previously received by Itafos in August, September and October.

In total, the Toronto-based producer of phosphate-based fertilizers has issued $10 million principal amount of the notes to Zaff LLC, $7,368,000 principal amount to Pala Investments Ltd. and $15 million principal amount to four funds managed by Ice Canyon.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.