Thursday, april 22, 2021

Ramsay Générale de Santé successfully refinanced its syndicated debt

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On 22 April 2021, the Ramsay Générale de Santé Group refinanced its entire syndicated debt (TLB 1, 2 and 3), which was due in October 2022 and October 2024 and, for the first time, introduced social and environmental objectives to its debt.

Ramsay Santé
On 22 April 2021, the Ramsay Générale de Santé Group refinanced its entire syndicated debt (TLB 1, 2 and 3), which was due in October 2022 and October 2024 and, for the first time, introduced social and environmental objectives to its debt.

Ramsay Générale de Santé as borrower has entered into a €1,650m term and revolving senior facilities agreement with BNP Paribas as coordinator and arranger, Crédit Agricole CIB and Mediobanca as arrangers, comprising two TLB facilities of €700m and €750m respectively, a €100m Capex facility and a €100m RCF. This senior debt, which matures on April 22, 2026 for up to €900m and on April 22, 2027 for up to €750m, has enabled the Group to refinance in whole its existing senior debt and is otherwise intended to finance the general corporate purpose of the Group, as well as acquisitions and capital expenditures for growth and reorganization.

Committed to a social and environmental policy across all its European sites, the Group has sought to combine its convictions with the optimization of its financing costs. The development of a company can only be sustainable if it combines economic, human and environmental interests. The implementation of the CSR strategy within Ramsay Générale de Santé is therefore based on the following three pillars:
  • The social pillar, which involves properly equipping, training and hiring our teams to ensure the highest level of quality care for our patients.
  • The societal pillar, which concerns commitment to the populations and territories where the Group operates.
  • The environmental pillar which implies having a reasoned vision of our activity to limit its impact on the environment.
For the first time, this new syndicated debt includes social and environmental criteria detailed in a framework document coordinated by Crédit Agricole CIB and Natixis and reviewed by an independent expert. The applicable margins will be adjusted, upwards or downwards, depending on the degree of satisfaction of these objectives. 

This transaction was very successfully received by a large number of international investors and was oversubscribed twice, to offer to Ramsay Générale de Santé one of the lowest financing margin for a 5-year maturity in the TLB market:
  • TLB 5 years for €700m at E+225bps / 99.75 OID
  • TLB 6 years for €750m at E+275bps / Par
Thank you to our historical and new investors: the fact that this refinancing was oversubscribed twice reflects their confidence in the solidity of our current model, the major role played by Ramsay Générale de Santé in the Covid crisis, and our ambition over the next five years to strengthen our strategy as an integrator of care pathways in Europe. It is also a very clear and coherent commitment by our Company to place social, environmental and societal issues at the heart of our concerns.

Pascal Roché, CEO of the Group

ISIN Code and Euronext Paris: FR0000044471
Website : www.ramsaygds.fr


Investor/Analyst Relations
Arnaud Jeudy
Phone. + 33 (0)1 87 86 21 88
a.jeudy@ramsaygds.fr

Press Relations
Caroline Desaegher
Phone. + 33 (0)1 87 86 22 11
c.desaegher@ramsaygds.fr

About Ramsay Santé

Ramsay Santé is the leader in private hospitalisation and primary care in Europe. The Group has 36,000 employees and works with nearly 9,300 practitioners to treat more than 10 million patients per year in its 443 facilities and 5 countries: France, Sweden, Norway, Denmark and Italy. Ramsay Santé offers almost all medical and surgical specialities in three domains: Medicine, Surgery, Obstetrics (MSO), Follow-up Care and Rehabilitation (FCR) and Mental Health.

Legally, Ramsay Santé is a mission-oriented company committed to constantly improving the health of all patients through innovation. Wherever it operates, the Group contributes to public health service missions and the healthcare network. Through its actions and the constant dedication of its teams, Ramsay Santé is committed to ensuring the entire patient care journey, from prevention to follow-up care.

Every year, the group invests over 200 million euros in innovation to support the evolution and diversity of care pathways, in medical, hospital, digital, and administrative aspects. Through this commitment, our Group enhances access to care for all, commits to provides best-in-class healthcare, systematically engages in dialogue with stakeholders and strives to protect the planet to improve health.

Thursday, april 22, 2021
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  • Brigitte Cachon
  • Director of Communication, Brand & CSR
  • +33 (0)1 87 86 22 11
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