Teladoc Health Aims to Raise $800 Million With Convertible Notes Issue
In a business maneuver that is becoming extremely common during these chaotic economic times, Teladoc Health (NYSE: TDOC) is aiming to raise some capital through an issue of convertible securities. The provider of remote medical services, which has zoomed to greater prominence during the SARS-CoV-2 coronavirus pandemic, announced Wednesday that it intends to float an $800 million issue of convertible, unsecured senior notes.
The notes will pay interest semi-annually, on June 1 and Dec. 1 of each year beginning this December. They will mature on June 1, 2027, if not redeemed, repurchased, or converted. The company has not yet specified an interest rate for the notes.
Image source: Teladoc Health.
Source Fool.com
