By William Gullotti
Buffalo, N.Y., Oct. 12 – Korian SA priced €300 million of 2¼% seven-year social bonds at 99.203, according to a press release and a London Stock Exchange notice on Monday.
Credit Agricole CIB, CIC, HSBC and ING are the active bookrunners.
Bank of America, BNP Paribas and Societe Generale are the global coordinators for the offering. Bank of America and Societe Generale are also the joint social bond structuring advisors.
The offering was initially sized at €300 million to €500 million, according to a prior London Stock Exchange notice.
Proceeds from this inaugural bond issuance will finance or refinance, in whole or in part, new or existing eligible social projects as defined by the issuer’s framework document. The projects financed will aim to address the growing needs for high quality care in Europe: long-term care, healthcare (including mental health) and community care including home care such as Petits-fils.
Settlement is set to occur on Oct. 15.
Korian is a Paris-based care and support services provider for the elderly.
| Issuer: | Korian SA
|
| Issue: | Social bonds
|
| Amount: | €300 million
|
| Maturity: | Oct. 15, 2028
|
| Active bookrunners: | Credit Agricole CIB, CIC, HSBC and ING
|
| Global coordinators: | Bank of America, BNP Paribas and Societe Generale
|
| Social bond structuring advisers: | Bank of America and Societe Generale
|
| Counsel to issuer: | White & Case
|
| Counsel to bookrunners/coordinators: | Gide Loyrette Nouel
|
| Coupon: | 2¼%
|
| Price: | 99.203
|
| Announcement date: | Oct. 11
|
| Settlement date: | Oct. 15
|
| Listing: | Euronext Dublin
|
| ISIN: | FR0010386334
|
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