Sonic raises $250m via US private placement market

Sonic raises $250m via US private placement market

Sonic Healthcare (ASX:SHL) announced it had raise $250 million in long-term debt funding via its first excursion into the US private placement market.

The transaction, which will close in 2010, will significantly expand Sonic’s debt maturity profile, the company said.

“We are delighted to be accessing this market for the first time, as it provides much longer tenors than the bank debt market, at very attractive pricing,” Sonic CFO Chris Wilks said.

Of the total transaction, $95 million has a 7 year term and a coupon rate of 5.23%, and $155 million has a ten year term and a coupon of 5.73%.

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