Aurora Healthcare hires PwC to advise on debt refinancing
Aurora Healthcare has hired PwC for a potential refinancing while UBS drums up interest in a sale of the business.
Sydney-based specialty healthcare group Aurora Healthcare has hired PwC to advise it on a potential debt refinancing package, in parallel to the ongoing sales process for the business being run by UBS.
Three market sources with direct knowledge said Aurora had enlisted the professional services firm to help it roll over its debt that is set to mature October 2024. Aurora had a total of $409.5 million in total interest-bearing bank and other borrowings at December 2021, including $365.4 million in bank loans with margins ranging from 4.75% to 8.5% over the bank bill swap rate, according to an ASIC filing.
Although Aurora experienced problems during Covid-19, the refinancing is about covering all bases, according to one of the sources, who noted that Aurora has a wealthy owner and is comfortable with the refinancing and sale process.
Aurora’s owner, Asia Pacific private healthcare group Luye Medical Group, has signed a letter of financial support regarding repayments of Aurora’s debt, the ASIC filing shows.
