Korian amends €1 billion credit facility, extends maturity to 2024

By Rebecca Melvin

New York, June 17 – Korian Group announced that it signed an agreement to amend and extend its €1 billion syndicated bank loan, which now matures in 2024.

The amendment rebalances the term loan and revolver to €500 million each and extends the maturity by three years, with two one-year extension options for the revolver.

The interest rate was also decreased to a margin of 40 basis points.

In addition, the pool of banks was strengthened to reflect the group’s pan-European focus, according to a press release.

The facility was originally inked in July 2016.

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

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