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 UK

After the acquisition of Capio AB Group in 2018, Ramsay Santé has become one of the leaders of the private hospitalisation and primary care in Europe with 36 000 employees and 8 600 practitioners serving 7 millions patients in our 350 facilities in five countries : France, Sweden, Norway, Denmark, Italy.
Ramsay Santé offers almost all medical and surgical specialities in three business areas : general hospitals (medicine – surgery – obstetric), follow-up care and rehabilitation clinics, mental health. In all its territories, the group contributes to missions of public service and to the territorial sanitory disposal, as for example in Sweden with more than 100 proximity care units.
The quality and security of care is the group’s priority. As such our group is today a reference in terms of modern medicine, especially in outpatient care and enhanced recovery.
Every year, the group invests more than €200M in innovation whether it is in new surgical or imaging technologies, in building or modernising its facilities… The group also innovates in its organization and digitalization in order to deliver care in a more efficient way to the benefit of the patient.

Thursday, april 22, 2021
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  • Caroline Desaegher
  • Group Communications, Brand & CSR Manager
  • +33 (0)1 53 23 12 62
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