Thomson Medical gains consents to amend 4.05% notes due 2025

By Mary-Katherine Stinson

Lexington, Ky., April 21 – Thomson Medical Group Ltd. reported the success of its consent solicitation exercise in connection with its S$175 million 4.05% series 002 notes due 2025 (ISIN: SGXF89249654), according to a notice.

The extraordinary resolution to amend the notes was tabled at the noteholders’ meeting on April 19 and was subsequently passed.

The consent solicitation expired at 10 p.m. ET on April 16, ahead of the meeting.

The issuer was seeking to, among other things, amend the ratio of consolidated net debt to consolidated total equity set out in the financial covenant under the conditions of the notes and amend the notes’ notice provisions.

With the passage of the extraordinary resolution, the company and DB International Trust (Singapore) Ltd., as trustee and security trustee for the series 002 noteholders, entered into a supplemental trust deed to amend the series 002 notes conditions.

Holders were eligible for an early consent fee if they delivered voting instructions by 5 a.m. ET on April 10. Holders delivering voting instructions after that deadline were only eligible to receive a normal consent fee. Payment of both fees to eligible noteholders was made on April 21.

Tricor Singapore Pte. Ltd. is the meeting agent.

DBS Bank Ltd. is the solicitation agent.

Based in Singapore, the private hospital specializes in gynecology and in vitro fertilization.

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