SG debt listings Thursday: Tim Hortons franchisee TH International and Yestar Healthcare

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These are entities which announced debt listing confirmations in Singapore on Thursday, 30 December 2021: TH International and Yestar Healthcare Holdings.

TH International

TH International, which holds the exclusive master franchise rights for Tim Hortons coffee shops in China, said Thursday its US$50 million variable rate convertible senior notes due 2026 (ISIN code: US87251CAA45) would be listed on SGX on Friday.

The notes, which will trade in U.S. dollars, will be in denomination of US$1 million, with a minimum board lot size of US$999,999, the company said in a filing to SGX.

No manager or bookrunner information was provided.

TH International, also known as THIL or Tims China, announced earlier this month it received pre-merger financing from a leading global asset manager, with the immediate US$50 million capital injection in the form of a note convertible into its shares at a 15 percent premium to price for its merger with Silver Crest Acquisition Corp., which is a special purpose acquisition vehicle, or SPAC.

At the same time, Tims China said it received several initial commitments for a larger private investment in public equities (PIPE) financing which was to be closed at the same time as its merger with Silver Crest Acquisition Corp. The PIPE investors included affiliates of Sequoia Capital China and Eastern Bell Capital, Tims China had said.

Yestar Healthcare Holdings

Yestar Healthcare Holdings said Thursday its US$197,864,523 9.5 percent senior secured notes due 2026 (ISIN codes: XS2407822357, XS2407822274 and XS2407823249) would begin trade on SGX’s bond market on Friday.

The notes, which will trade in U.S. dollars, will be in denomination of US$200,000, which is also the minimum board lot size, the company said in a filing to SGX.

No manager or bookrunner information was provided.

Yestar Healthcare Holdings operates in the high margin medical consumables and equipment sector in China, particularly in medical imaging. The group is China’s sole manufacturer for Fujifilm medical film products and one of the largest distributors for Roche Diagnotic IVD products, according to its website.

 

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