ORPEA Announces the First Drawdown of 200 Million Euros Under the “New Money” Financing With Its Core Banking Pool

PUTEAUX, France--(BUSINESS WIRE)--Regulatory News:

A first drawdown of €200 million under the “new money” financing, granted by the main banking partners of the group to ORPEA S.A. (Paris:ORP) and its subsidiaries, Niort 94 and Niort 95, has just been made. This amount corresponds to the totality of the Facility D1A (the characteristics of which are described in the press release dated May 26, 2023).

The drawn funds will be used to finance and refinance general corporate purposes of Niort 94 including the reimbursement of the intragroup debt due to ORPEA S.A. which will apply the proceeds to finance in particular the general corporate purposes of the Group, debt service and capital expenditures.

The main obligations of ORPEA S.A., Niort 94 and Niort 95, and the securities granted to secure this “new money” financing are described in the press release dated May 26, 2023, and the security interests executed by ORPEA S.A. being granted within the framework of the safeguard plan (plan de sauvegarde).

The amounts of the “new money” financing which remain undrawn to date (and subject to certain conditions precedent) are Facilities D1B, D2 and D3 for an aggregate amount of €400 million.

The Company is therefore continuing the execution of its financial restructuring as per the lock-up agreement dated February 14, 2023 entered into between ORPEA S.A. and the members of the Groupement. ORPEA S.A. will continue to inform the market of the next steps of its implementation, in compliance with its legal and regulatory obligations.

About ORPEA

ORPEA is a leading global player, expert in providing care for all types of frailty. The Group operates in 21 countries and covers three core businesses: care for the elderly (nursing homes, assisted living facilities, homecare and services), post-acute and rehabilitation care and mental health care (specialized clinics). It has more than 76,000 employees and welcomes more than 267,000 patients and residents each year.

https://www.orpea-group.com/en

ORPEA is listed on Euronext Paris (ISIN: FR0000184798) and is a member of the SBF 120, MSCI Small Cap Europe and CAC Mid 60 indices.