June 28, 2017 / 1:20 PM / 22 days ago

BRIEF-Alaris Royalty announces a new partner, additional proceeds from KMH and provides a corporate update

1 Min Read

June 28 (Reuters) - Alaris Royalty Corp

* Alaris Royalty Corp. announces a new partner, additional proceeds from KMH and provides a corporate update, including reduction of payout ratio to below 90%

* Alaris Royalty Corp - Announce a $20.0 million contribution to a new partner

* Alaris Royalty Corp says accscient contribution was funded with proceeds from KMH and Alaris' revolving credit facility and closed on June 28, 2017

* Alaris Royalty Corp - Accscient used proceeds to retire its debt obligations

* Alaris Royalty Corp - Wednesday's announcements result in Alaris lowering its annualized payout ratio to below 90%

* Alaris Royalty Corp - Has received an additional $9.8 million of cash from KMH Limited partnership

* Alaris Royalty Corp - Co can force sale of all remaining KMH assets if minimum of additional $12.2 million of KMH notes is not repaid by Dec. 31, 2017 Source text for Eikon: Further company coverage:

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