France’s Orpea draws down first €200 million on new money financing

Chicago, June 2 – Orpea SA with subsidiaries Niort 94 and Niort 95 made an initial €200 million draw on its new money financing with its core banking pool, according to a press release.

The amount corresponds to the totality of the D1A facility.

Proceeds will be used to finance or refinance general corporate purposes of Niort 94, including the reimbursement of the intragroup debt due to Orpea. Orpea will use the proceeds for the general corporate purposes of the group, debt service and capital expenditures.

There is €400 million remaining and undrawn under the D1B, D2 and D3 facilities.

The company is therefore continuing the execution of its financial restructuring as per the lock-up agreement from Feb. 14, 2023 entered into between Orpea and the members of the group.

Orpea is a Paris-based long-term care facility operator.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.