Global law firm White & Case LLP has advised Praemia Healthcare on the issue of its first sustainability bond for an amount of €500 million maturing in September 2028 with a 5.500% fixed coupon.
Proceeds of the bonds, which are admitted to trading on the regulated market of Euronext Paris, will be used for the financing and/or refinancing, in whole or in part, of eligible green and/or social assets, as set out in the sustainability financing framework of Praemia Healthcare.
Praemia Healthcare (formerly known as Icade Santé) is a leader in investments in healthcare facilities in France. Its portfolio of 160 healthcare facilities, representing assets worth €6.2 billion as of 30 June 2023, is managed by Primonial REIM France, a subsidiary of Primonial REIM, a key player in real estate asset management in Europe.
The deal was managed by a syndicate of banks led by BNP Paribas and Société Générale Corporate & Investment Banking as global coordinators.
The White & Case team in Paris which advised on the transaction was led by partner Thomas Le Vert and included partner Estelle Philippi and associates Boris Kreiss, Quentin Pipieri and Claire Sardet.
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