ORPEA Announces the Second Drawdown of 650 Million Euros Under the Financing Agreement With Its Core Banking Pool

Regulatory News:

ORPEA (Paris:ORP) has just made a second drawdown of 650,000,000 euros. The amounts drawn in the first (250,000,000 euros) and the present drawdowns correspond to the totality of the A1 and A3 Loans (the characteristics of which were described in the Press Release of June 13, 2022).

The drawn funds will be used to finance and refinance general corporate purposes of the Group (including, but not limited to, debt service and capital expenditures) as well as all the fees, costs and expenses owed under the Financing Agreement.

ORPEA reminds that it has granted the following security interests to the lenders:

• A ‘Dailly’ assignment of intra-Group loans financed by drawing on the Loans;
• First-ranking pledges on:
  1. 100% of the share capital of CEECSH (the “CEECSH Pledge”); and
  2. 100% of the share capital of ORESC 25 S.à.r.l (“ORESC Pledge”), which holds 100% of the shares of its subsidiary CLINEA (the “ORESC Pledge”, and together with the CEECSH Pledge, the “Pledges”). The assets being pledged as security represent 25% and 32% of the Group’s turnover, respectively. Following certain reorganizations to be carried out within the Group, the pledges over CLINEA France and the Group’s activity in Germany will represent 25% and 16% of consolidated turnover respectively.

The company's other main obligations are set out in the press release of 13 June.

Regarding the C Loan, amounting €1.5 billion maximum, the placement of this line of credit will initially take place with its main banking partners. Depending on their level of commitment to the facility, discussions will be extended to other creditors of the Company.

The amounts of this financing remaining available to date are lines A2, A4 and B for an amount of approximately €829 million.

The Company is therefore continuing with the execution of the financing agreement as envisaged and will continue to inform the market on the next steps of its implementation, in compliance with its legal and regulatory obligations.

About ORPEA (www.orpea-corp.com)

Founded in 1989, ORPEA is one of the world leaders in Dependency care (nursing homes, assisted living, post-acute and rehabilitation hospitals, mental health hospitals, home care services).

ORPEA is listed on Euronext Paris (ISIN code: FR0000184798) and is a member of the SBF 120, STOXX 600 Europe, MSCI Small Cap Europe and CAC Mid 60 indices.

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