Ryman’s covenants were becoming ‘too tight’
The company announced a massive capital raise this morning to reset its balance sheet for the second time in as many years.
Ryman's Bruce McLaren village in Auckland.
Ryman Healthcare made the decision to launch a billion-dollar capital raise because it was “uncomfortable” with its gearing in the current market.
The company is seeking to raise $1 billion from shareholders to reset its balance sheet and reduce gearing from 37.3% to 23.1%. Ryman has a gearing
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