Thomson Medical Group has priced its $225 million senior notes due in 2022 at 4.8 per cent.
This is its maiden bond offering, and is part of the group's $500 million multi-currency debt issuance programme set up in June last year.
Thomson Medical said the notes are its first step in building a long-term platform to tap the debt capital markets and diversify its funding sources.
The three-year unsubordinated notes are expected to be issued on July 18 and listed on the Singapore Exchange. They will be available in tranches of $250,000.
There will be an interest-service reserve account, in which Thomson Medical will maintain an amount equivalent to one interest payment on the notes at all times.
The Series 001 notes were two times oversubscribed - a "robust reception", the company said in a filing on Thursday. Net proceeds will refinance Thomson Medical loans and extend its debt maturity profile.
The three-year unsubordinated notes will be available in tranches of $250,000.
The company operates the Thomson Medical Centre and a network of specialist clinics and facilities in Singapore for women and children. It operates in Malaysia under TMC Life Sciences, which is listed on Bursa Malaysia.
Thomson Medical shares closed down 1.52 per cent at 6.5 cents yesterday.