Singapore’s RHT solicits consents to waive default under 4˝% notes

By Susanna Moon

Chicago, July 28 – RHT Health Trust began a consent solicitation for its S$120 million of 4˝% notes due 2018 through its manager, RHT Health Trust Manager Pte. Ltd.

RHT is asking for noteholder approval to amend the notes to waive the occurrence of default announced July 25, according to a company notice.

The company also is seeking to delete a condition of the note terms and to replace it with the following: “if at any time the sponsor does not or ceases to beneficially (directly or indirectly) own at least 51% of the entire issued and paid-up share capital of the issuer, and if Mr. Malvinder Mohan Singh and Mr. Shivinder Mohan Singh together do not or cease to have an interest in at least 25% of the entire issued and paid-up share capital of the sponsor.”

DBS Bank Ltd. is the solicitation agent. Deutsche Bank AG, Singapore Branch is the meeting agent.

RHT, formerly known as Religare Health Trust, is a Singapore-based business trust with India-based health care assets.

© 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.