White & Case, a renowned global law firm, has recently advised Praemia Healthcare on a strategic financial move. Praemia Healthcare, a leading investor in healthcare facilities in France, has embarked on a cash tender offer and a €500 million sustainability bond issue. This move is a significant step towards managing debt maturity and extending the average maturity of its financing. The €500 million bond, with a total repurchased nominal amount of €150 million, has a maturity date in June 2032 and a fixed coupon of 3,875%. This is Praemia's second sustainability bond issue, and the bonds are traded on the regulated market of Euronext Paris, showcasing their commitment to transparency and market compliance.
The net proceeds from the bond issue will be utilized to refinance a portion of Praemia's debt, including the financing of the cash tender offer. This transaction is a testament to Praemia's strategic financial planning and its ability to navigate the complex landscape of bond markets. BNP PARIBAS, BofA Securities Europe SA, Crédit Agricole Corporate Investment Bank, Crédit Industriel et Commercial S.A., and La Banque Postale served as joint bookrunners for this new issue, highlighting their expertise and role in facilitating the transaction.
White & Case's involvement in this project is not new. The firm previously advised Praemia on its first sustainability bond in September 2023, demonstrating their ongoing commitment to supporting Praemia's financial goals. Praemia REIM France, a subsidiary of Praemia REIM, a key player in European real estate asset management, manages a portfolio of 160 healthcare facilities, further emphasizing Praemia's influence in the healthcare industry.
The legal team at White & Case, led by partners Boris Kreiss and Thomas Le Vert, and including associate Eva Brunelli Brondex, played a crucial role in advising on this transaction. Their expertise and dedication contributed to the successful completion of this financial endeavor.
For further insights and media inquiries, interested parties are encouraged to reach out to their local media contact. This press release highlights White & Case's expertise in advising on complex financial transactions and Praemia's strategic approach to managing its debt and sustainability bond issues.
