Orpea greenshoe exercised, lifts convertible sale to €198.4 million

By Tali David

Minneapolis, July 11 - Underwriters for Orpea Group's net share settled bonds convertible into new shares and/or exchangeable for existing shares due Jan. 1, 2020 exercised their over-allotment option in full, adding an additional €27.5 million, according to a press release.

The company priced about €172.5 million of the 6.5-year convertibles on July 9. The total amount of the transaction is now €198,374,979.36, representing 4,260,631 bonds.

As previously reported, Credit Agricole CIB, Natixis and Societe Generale CIB are the joint bookrunners.

Proceeds of the convertibles issue will be used to repay banking credit lines.

Paris-based Orpea owns and operates health care facilities in Europe.

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