Metlifecare to raise $80M via placement, share purchase plan to repay debt

Wed, 29 May 2013

May 30 (BusinessDesk) – Metlifecare, the retirement village operator whose shares have jumped 60 percent in the past year, plans to raise up to $80 million in a placement and share purchase plan as it rolls out its expansion plans. The company’s shares were halted for the placement of $70 million of shares to institutions. It will also raise up to $10 million in a share purchase plan. Metlifecare had $134 million of debt at April 30, of which $33 million was classified as development debt and $101 million as non-development. Following the pl...

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