White & Case has recently advised Praemia Healthcare on a significant financial move, involving a cash tender offer and a substantial sustainability bond issuance. This strategic decision allows Praemia to optimize its debt management and extend the average maturity of its financing, marking a pivotal moment in the company's financial strategy. The €500 million sustainability bond issue, with a maturity date of June 2032 and a fixed coupon of 3,875%, is a testament to Praemia's commitment to sustainable practices and long-term financial stability. This is Praemia's second sustainability bond issue, and the bonds are listed on the Euronext Paris regulated market, enhancing their credibility and market presence.
The net proceeds from this issuance will be utilized to refinance a portion of Praemia's debt, including the financing of the cash tender offer. This strategic move is facilitated by a team of joint bookrunners, including BNP PARIBAS, BofA Securities Europe SA, Crédit Agricole Corporate Investment Bank, Crédit Industriel et Commercial S.A., and La Banque Postale. White & Case's expertise in this transaction builds upon their previous advisory role for Praemia's first sustainability bond in September 2023, solidifying their position as a trusted legal partner in the healthcare sector.
Praemia, a leading investor in healthcare facilities in France, boasts a diverse portfolio of 160 healthcare facilities, managed by Praemia REIM France, a subsidiary of Praemia REIM, a prominent player in European real estate asset management. The White & Case team, led by partners Boris Kreiss and Thomas Le Vert, and including associate Eva Brunelli Brondex, played a pivotal role in structuring and executing this financial maneuver.
This announcement highlights White & Case's commitment to supporting innovative and sustainable initiatives in the healthcare industry, while also showcasing their ability to provide tailored legal solutions to complex financial challenges.
