Korian Announces a Successful Issuance of an Inaugural Perpetual Green Bond for £200 Million
08 Giugno 2021 - 10:45PM
Business Wire
- £200 million non-convertible perpetual green bond
transaction, with a 4.125% coupon, equivalent to c.3.2% in Euros,
and a call date in June 2024
- Issued in compliance with Korian Green Bond
Framework
- Investments in environmentally sustainable Healthcare Real
Estate properties principally in the UK, with appropriate currency
matching
- Group Real Estate portfolio could reach €4 billion by end
2023
Regulatory News:
Korian (Paris:KORI), Europe’s leading operator of social and
healthcare infrastructure, has issued the first unrated
non-convertible perpetual green bond transaction in sterling for
£200 million with a 4.125% coupon, equivalent to c.3.2% in Euros,
with a call date in June 2024.
The transaction will contribute in full to Korian IFRS equity.
It is issued in compliance with Korian Green Bond Framework and
proceeds will be used to upgrade, acquire and develop healthcare
real estate properties principally in the UK with appropriate
currency matching.
Korian aims to further increase the share of real estate it
owns, especially to its most strategic and valuable assets. Based
on the current trend and following Korian’s strategy, the real
estate portfolio could reach €4 billion by the end 2023. Such
strategy provides Korian with great operational flexibility
maximising performance as well as generating extra returns through
real estate development or acquisitions.
Korian’s real estate strategy will remain funded through real
estate debt (around 50% LTV) and leveraging third party capital
including in hybrid format with a view to minimise the amount of
capital deployed by Korian into real estate while maintaining
operational control.
Such real estate strategy allows Korian to diversify and
increase the services it provides as an operator, to capture
incremental profitability translating into optimized returns on
employed capital, and to maintain a prudent leverage profile.
Next events:
28 June 2021 – Capital Markets Day
29 July 2021 – Half-year results and SFAF
audio webcast meeting
About Korian
Korian, the leading European care services group for elderly and
fragile people. www.korian.com
Korian 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: KORI - ISIN: FR0010386334 –
Reuters: KORI.PA – Bloomberg: KORI.FP
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INVESTOR RELATIONS
Sarah Mingham VP Investor Relations & Financing
sarah.mingham@korian.com Tel: +33 (0)1 55 37 53 55
Carole Alexandre Deputy Head of Investor Relations
carole.alexandre@korian.com Tel: +33 (0)7 64 65 22 44
MEDIA CONTACTS
Jean-Marc Plantade Head of Press Relations
jean-marc.plantade@korian.fr Tel: +33 (0)7 62 90 32 58
Cyrille Lachèvre Deputy Head of Press Relations
cyrille.lachevre@korian.fr Tel: +33 (0)7 61 53 54 86
Marjorie Castoriadis Head of Media Relations
marjorie.castoriadis@korian.fr Tel: +33 (0)7 63 59 88 81