Korian to buy back convertible bonds using proceeds of new offering

By Rebecca Melvin

Concord, N.H., Sept. 1 – Korian said it is repurchasing its outstanding undated convertible bonds issued in June 2017 and September 2018 using proceeds of a new convertible offering, according to a company news release on Wednesday.

Korian is offering up to €330 million unsubordinated unsecured undated bonds convertible into new shares and/or exchangeable for existing shares.

Settlement and delivery of the repurchased bonds is expected to occur on Sept. 9, the day after settlement of the new bonds.

Korian is a Paris-based care and support services provider for the elderly.

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