By Lisa Kerner
Charlotte, N.C., Nov. 28 - Orpea Group completed its first private placement of €193 million of bonds with French institutional investors, including insurance companies and mutual groups, arranged by Groupe Credit Agricole.
The bond was issued in two tranches:
• A €65 million tranche A with a maturity of five years and one and one half months and a 4.1% coupon; and
• A €128 million tranche B with a maturity of 6.5 years and a 4.6% coupon.
Orpea said the placement strengthened the Group's finances without increasing overall debt by diversifying its sources of financing, a process begun in 2010 with the Oceane issue and supplemented by the March 2012 Schuldschein private placement.
The placement also extended the group's average debt maturity, a company news release said.
Paris-based Orpea owns and operates health care facilities in Europe.
| Issuer: | Orpea Group
|
| Issue: | Bonds
|
| Amount: | €193 million
|
| Distribution: | Private placement
|
|
|
| Tranche A
|
| Amount: | €65 million
|
| Maturity: | Five years and one and one half months
|
| Coupon: | 4.1%
|
|
|
| Tranche B
|
| Amount: | €128 million
|
| Maturity: | Six and one half years
|
| Coupon: | 4.6%
|
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