ORPEA S.A.: Convergence of the Company’s Main Banking Partners on the Principles of an Agreement on an Additional Financing and the Amendment of the June 2022 Financing Documentation

Rhea-AI Summary

ORPEA S.A. announced its ongoing financial restructuring in line with its planned timetable, receiving support from key banking partners to establish additional financing and amend its June 2022 financing documentation. This includes participation from a group of long-term French investors led by Caisse des Dépôts et Consignations, who now hold a 50.2% stake in the company. The additional financing, structured in tranches, aims to meet the company's cash flow needs until the majority stake transfer occurs, contingent on approval from credit committees and completion of contractual documentation. ORPEA operates in 22 countries, focusing on care for frailty.

Positive

• Support from key banking partners for financial restructuring.
• Successful convergence of banking partners on financing principles.
• Long-term investors hold 50.2% of the company, providing stability.

Negative

• Financial restructuring remains conditional upon various approvals.
• Additional financing dependent on completion of contractual documentation.

PUTEAUX, France--(BUSINESS WIRE)-- Regulatory News:

ORPEA S.A. (The " Company ") (Paris:ORP) announces the continuation of its financial restructuring within the planned timetable and, as such, welcomes the convergence of its main banking partners on the principles of an agreement concerning the establishment of an additional financing and the adjustment of the financing documentation of June 2022.

These banking partners intend to participate to the implementation of this additional financing and to the amendment of the financing documentation of June 2022 only within the framework of the implementation of the plan proposed by the Company and in particular in so far as the group of French long term investors led by the Caisse des Dépôts et Consignations including CNP Assurances, MAIF and MACSF, hold 50.2% of the capital of the Company.

The implementation and drawing of the additional financing, via several tranches, partly in the form of a bridge, enabling the Company's cash flow requirements to be met until the group led by Caisse des Dépôts et Consignations acquires its majority stake in the Company, remains conditional on obtaining the agreement of the credit committees of the institutions concerned, the finalization of the required contractual documentation, and certain steps of the financial restructuring of the Company.

About ORPEA

ORPEA is a leading global player, expert in the care of all types of frailty. The Group operates in 22 countries and covers three core businesses: care for the elderly (nursing homes, assisted living, home care), post-acute and rehabilitation care and mental health care (specialized clinics). It has more than 72,000 employees and welcomes more than 255,000 patients and residents each year.

https://www.orpea-group.com/

ORPEA is listed on Euronext Paris (ISIN: FR0000184798) and is a member of the SBF 120, STOXX 600 Europe, MSCI Small Cap Europe and CAC Mid 60 indices.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230305005088/en/

Investor Relations

ORPEA

Benoit Lesieur

Investor Relations Director

b.lesieur@orpea.net

Toll free tel. nb. for shareholders:

+33 (0) 805 480 480

Investor Relations

NewCap

Dusan Oresansky

Tel.: +33 (0)1 44 71 94 94

ORPEA@newcap.eu

Media Relations

ORPEA

Isabelle Herrier-Naufle

Media Relations Director

Tel.: +33 (0)7 70 29 53 74

i.herrier-naufle@orpea.net

Image 7

Charlotte Le Barbier

Tel.: +33 (0)6 78 37 27 60

clebarbier@image7.fr

Laurence Heilbronn

Tel.: +33 (0)6 89 87 61 37

lheilbronn@image7.fr

Source: ORPEA S.A.

FAQ

What is the latest update on ORPEA's financial restructuring?

ORPEA is continuing its financial restructuring, with key banking partners agreeing to additional financing and amendments to existing documentation.

Who are the main investors supporting ORPEA's restructuring?

The financial restructuring is supported by a group led by Caisse des Dépôts et Consignations, which holds a 50.2% stake in ORPEA.

What conditions are attached to ORPEA's additional financing?

The additional financing is contingent on obtaining agreement from credit committees and finalizing necessary contractual documentation.

How does ORPEA plan to meet its cash flow requirements?

ORPEA plans to meet its cash flow needs through additional financing structured in several tranches.

In how many countries does ORPEA operate?

ORPEA operates in 22 countries worldwide.