India, Sept. 3 -- Mesoblast Limited (MESO, MSB.AX) announced that it has entered into convertible note subscription agreements with SurgCenter principals and existing Mesoblast shareholders, Gregory George and William Gueck, to issue up to US$50.0 million (A$76.8 million) of unsecured convertible notes.
The funding is available at Mesoblast's discretion to repay or reduce amounts owed to its secured lenders under existing loan agreements, and to support general working capital needs.
Mesoblast may issue up to US$50 million of unsecured convertible notes in tranches of US$10 million to the Investors. The maturity date of the convertible notes will be 5 years after the first issuance of notes.
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