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Well Health Technologies Corp. is looking to sell $150 million of high-yield bonds maturing in five years, according to people familiar with the matter.
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The deal will be sold via private placement and proceeds will be used to repay the company’s convertible bond due this year as well as for general corporate purposes, the people said, asking not to be identified as they aren’t authorized to speak publicly. Well Health will have the option to buy back the debt after two years.
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Representatives for the company didn’t immediately respond to requests for comment.
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Executives at the Canadian company, which operates health-care clinics and digital health assets, spoke with fixed income investors on Thursday. The company received a new issuer rating of B (high) with a stable trend from Morningstar DBRS.
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