Korian issues €380 million Schuldschein bonds due in five, seven, eight years

By Rebecca Melvin

Concord, N.H., Jan. 18 – Korian Group issued about €380 million of Schuldschein bonds for five-, seven- and eight-year durations, according to a company announcement.

The amount was initially targeted at €150 million.

The bonds bear interest mostly at fixed rates, at 1.3% for the five-year loan, 1.55% for the seven-year loan and 1.7% for the eight -year loan.

The funds will be used to reimburse shorter term, more expensive debt in 2021 and in 2022 as well as for pre funding liquidity and growth requirements.

The issuance contributes to extending Korian’s average debt maturity to 5.8 years compared to 4.5 years at the end of 2019.

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

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