Global law firm White & Case LLP has advised Praemia Healthcare (Praemia) on a cash tender offer for an existing €500 million bond with a total repurchased nominal amount of €150 million and a €500 million sustainability bond issue with a maturity date in June 2032 and a fixed coupon of 3,875%.
The transaction enables Praemia to manage its debt maturity structure and extend the average maturity of its financing. It is Praemia’s second sustainability bond issue and the bonds are admitted to trading on the regulated market of Euronext Paris.
The net proceeds from the issue will be used to refinance part of Praemia’s debt, including the financing of the cash tender offer. BNP PARIBAS, BofA Securities Europe SA, Crédit Agricole Corporate Investment Bank, Crédit Industriel et Commercial S.A. and La Banque Postale acted as joint bookrunners for the new issue.
White & Case previously advised Praemia on its first sustainability bond in September 2023.
Praemia is the leading investor in healthcare facilities in France. Its portfolio, comprising 160 healthcare facilities, is managed by Praemia REIM France, a subsidiary of Praemia REIM, a key player in real estate asset management in Europe.
The White & Case team in Paris which advised on the transaction was led by partners Boris Kreiss and Thomas Le Vert and included associate Eva Brunelli Brondex.
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Read the orginal article: https://www.whitecase.com/news/press-release/white-case-advises-praemia-healthcare-cash-tender-offer-and-eu500-million
