Wednesday, August 10, 2022

ORPEA Pronounces the Second Drawdown of 650 Million Euros Underneath the Financing Settlement With Its Core Banking Pool

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PUTEAUX, France–()–Regulatory Information:

ORPEA (Paris:ORP) has simply made a second drawdown of 650,000,000 euros. The quantities drawn within the first (250,000,000 euros) and the current drawdowns correspond to the totality of the A1 and A3 Loans (the traits of which had been described within the Press Launch of June 13, 2022).

The drawn funds shall be used to finance and refinance common company functions of the Group (together with, however not restricted to, debt service and capital expenditures) in addition to all of the charges, prices and bills owed beneath the Financing Settlement.

ORPEA reminds that it has granted the next safety pursuits to the lenders:

  • A ‘Dailly’ project of intra-Group loans financed by drawing on the Loans;
  • First-ranking pledges on:

    1. 100% of the share capital of CEECSH (the “CEECSH Pledge”); and
    2. 100% of the share capital of ORESC 25 S.à.r.l (“ORESC Pledge”), which holds 100% of the shares of its subsidiary CLINEA (the “ORESC Pledge”, and along with the CEECSH Pledge, the “Pledges”). The property being pledged as safety characterize 25% and 32% of the Group’s turnover, respectively. Following sure reorganizations to be carried out inside the Group, the pledges over CLINEA France and the Group’s exercise in Germany will characterize 25% and 16% of consolidated turnover respectively.

The corporate’s different major obligations are set out within the press launch of 13 June.

Relating to the C Mortgage, amounting €1.5 billion most, the location of this line of credit score will initially happen with its major banking companions. Relying on their stage of dedication to the power, discussions shall be prolonged to different collectors of the Firm.

The quantities of this financing remaining out there so far are strains A2, A4 and B for an quantity of roughly €829 million.

The Firm is subsequently persevering with with the execution of the financing settlement as envisaged and can proceed to tell the market on the subsequent steps of its implementation, in compliance with its authorized and regulatory obligations.

About ORPEA (www.orpea-corp.com)

Based in 1989, ORPEA is likely one of the world leaders in Dependency care (nursing properties, assisted dwelling, post-acute and rehabilitation hospitals, psychological well being hospitals, house care companies).

ORPEA is listed on Euronext Paris (ISIN code: FR0000184798) and is a member of the SBF 120, STOXX 600 Europe, MSCI Small Cap Europe and CAC Mid 60 indices.



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