Ramsay Health Care (ASX:RHC) today announced that it is raising $1.2 billion through an institutional placement, taking decisive action to enhance its financial flexibility.
The proceeds of the Offer will initially be used to partially repay Ramsay Funding Group’s revolving debt facilities which will remain available for redraw.
Ramsay’s Managing Director Craig McNally said, “the equity raising will ensure that we can continue to pursue our growth initiatives and position us to take advantage of other growth opportunities that may arise”
The COVID-19 pandemic has resulted in the suspension of most elective surgery in each of Ramsay Health Care’s major operating geographies and led to an uncertain operating environment.
Shares in Ramsay Health Care (ASX:RHC) last traded at $64.29.