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Ryman’s ‘extraordinary’ penalty costs for paying off USPP debt

The proceeds from its $902m capital raise would go towards paying off foreign debt, but it comes with a $134m penalty fee.

Ryman's proposed Park Terrace village, Christchurch.

Ryman Healthcare made the call to pay off its most expensive tranche of debt, which carries a hefty penalty for shareholders, because it was at risk of breaching its covenants.

The NZX-listed retirement village announced yesterday it was tapping shareholders for $902 million, to help reset its

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Nicholas Pointon Thu, 16 Feb 2023
Contact the Writer: nicholas@nbr.co.nz
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Ryman’s ‘extraordinary’ penalty costs for paying off USPP debt
Investment,
97702
true