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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