Continued Implementation of the Refinancing Plan Announced on 14 November 2023, With the Finalization of the Second Real-estate Partnership and the Setting up of a Real-estate Term Loan Bridge
28 Dicembre 2023 - 6:44PM
Business Wire
Regulatory News:
Clariane (CLARIA.PA - ISIN FR0010386334) (Paris:CLARI), today
announced the finalization of the second real estate partnership
with Crédit Agricole Assurances, for a total amount of 90
million euros. At the same time, Clariane has set up a €200
million real-estate term loan bridge.
These two transactions are part of the refinancing plan
announced on 14 November.
- Finalization of the second real-estate partnership
involving 11 UK properties with a gross value of around €227
million, excluding transfer duties.
Crédit Agricole Assurances has subscribed for €90 million
in bonds (ORA) issued by the Group's real-estate subsidiary
grouping these assets and redeemable in shares of the subsidiary,
with a 5-year maturity and a fixed coupon of 8.0%.
- At the same time, Clariane signed a €200 million term loan
bridge with Caisse Régionale de Crédit Agricole Mutuel de Paris
et d'Ile de France (CADIF), LCL and Crédit Agricole Corporate and
Investment Bank (CACIB).
The main features of this loan are :
- A deadline of 31 January 2025 ;
- A Euribor interest rate, with a margin of 4%, then 5% from the
7th month, and finally 6.5% from the 10th month.
This bridge loan may become repayable in advance if the capital
increase of 300 million euros (cash subscription amount) planned in
the refinancing plan is abandoned, unless the Company implements an
alternative project enabling it to raise equity or quasi-equity
financing or financing of a similar nature for a minimum equivalent
amount.
Sophie Boissard, Chief Executive Officer of the Clariane
Group, said:
"With the finalization of this second real-estate partnership
and the implementation of this bridge loan, we have now deployed
all the short-term measures in the refinancing plan presented on 14
November. We are now focusing on the execution of the second part
of this plan in order to strengthen the financial structure of the
Group, with the objective of achieving a leverage ratio
significantly below 3x by the end of 2025.”
Warning
This press release does not constitute, and shall not be deemed
to constitute, an offer to the public or an offer to purchase or
the solicitation of public interest in a transaction by way of
public offer, nor shall there be any sale of securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful absent registration or approval under the
securities laws of such state or jurisdiction. The distribution of
this document may be subject to specific restrictions in certain
countries. Persons in possession of this document are required to
inform themselves of and to observe any such local
restrictions.
A prospectus relating to the capital increase will be submitted
by Clariane S.E. to the Autorité des marchés financiers for
approval before the effective launch of the capital increase.
All forward-looking statements included in this document speak
only as of the date of this press release. Clariane S.E. undertakes
no obligation and assumes no responsibility to update the
information contained herein beyond what is required by applicable
regulations.
About Clariane
Clariane is the leading European community for care in times of
vulnerability. It has operations in seven countries: Belgium,
France, Germany, Italy, the Netherlands, Spain and the United
Kingdom.
Relying on their diverse expertise, each year the Group’s 67,000
professionals provide services to over 800,000 patients and
residents in three main areas of activity: long-term care nursing
home (Korian, Seniors Residencias, Berkley, etc.), healthcare
facilities and services (Inicea, Ita, Grupo 5, Lebenswert, etc.),
and alternative living solutions (Petits-fils, Les essentiels, Ages
et Vie, etc.).I
In June 2023, Clariane became a purpose-driven company and added
to its bylaws a new corporate purpose, common to all its
activities: “To take care of each person’s humanity in times of
vulnerability”.
Clariane has been listed on Euronext Paris Section A since
November 2006 and is included in the following indices: SBF 120,
CAC Health Care, CAC Mid 60, CAC Mid & Small and MSCI Global
Small Cap
Euronext ticker: CLARI - ISIN: FR0010386334
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version on businesswire.com: https://www.businesswire.com/news/home/20231228428660/en/
Investor relations Stéphane Bisseuil Head of Investor
Relations +33 6 58 60 68 69 stephane.bisseuil@clariane.com
Press Contacts Matthieu Desplats Press relations Director
+33 6 58 09 01 61 matthieu.desplats@clariane.com
Julie Mary Press relations Manager +33 6 59 72 50 69
Julie.mary@clariane.com
Florian Bachelet Press relations Manager +33 6 79 86 78 23
florian.bachelet@clariane.com
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