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Asklepios Kliniken takes advantage of positive interest rate environment and places promissory note loan of EUR 580 million

DGAP-News: Asklepios Kliniken GmbH / Key word(s): Corporate Action
Asklepios Kliniken takes advantage of positive interest rate
environment and places promissory note loan of EUR 580 million

31.08.2015 / 07:59

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Asklepios Kliniken takes advantage of positive interest rate environment
and places promissory note loan of EUR 580 million

- Hospital group successfully concludes one of the largest ever promissory
note issues in the healthcare sector
- Return to promissory note market for first time since 2013 -
oversubscribed several times over
- Favourable conditions boost earnings power and open up financial
flexibility for corporate strategy
- Average term of eight years; terms on individual tranches of up to 15
years improve Group's maturity profile

Hamburg, 31 August 2015. The Asklepios Group has successfully placed a
promissory note loan with a volume of EUR 580 million in August, thereby
securing positive long-term conditions for the company's further financing.
Driven by strong demand, the issue was oversubscribed several times over.
As a result the originally intended issue volume of EUR 200 million was
stepped up to a total of EUR 580 million.

In addition to savings, commercial and cooperative banks, the issue also
attracted institutional and international investors. Asklepios Kliniken's
diversified base of banks and investors has therefore broadened to more
than 250 institutional names in Germany and abroad.

As part of the placement, the securities were issued in tranches of five,
seven, 10, 12 and 15 years, with both fixed and floating-rate interest. The
tranches maturing in seven and 10 years accounted for the bulk of the
issue, giving the promissory note loan an average term of eight years.
Asklepios will then be able to further optimise the already balanced
maturity profile of its liabilities. At the same time, the favourable
conditions, which are significantly below the level of previous
transactions, are a boost to the company's earnings power.

The issuer of the promissory note loan is Asklepios Kliniken GmbH, the
Hamburg-based holding company of the Asklepios Group. For several years the
hospital operator has been consolidating its financing at Group level in
order to benefit from its strong positioning as one of the leading
healthcare groups in its financing as well.

The funds generated with the promissory note loan will be used for general
corporate and growth finance in addition to favourable refinancing. Some of
the Group's more expensive financing will be scaled back. Existing