With 205 Million Euros, Orpea Announces the Last Drawings Under the 3.2 Billion Euros Financing Agreement Concluded With Its Main Banking Partners in June 2022

Rhea-AI Summary

ORPEA has made two new drawings totaling €205 million from its financing agreements as of December 2022. The funds involve the full utilization of the A4 Loan and a portion of the B Loan, essential for financing the company’s general corporate purposes. ORPEA is currently undergoing a financial restructuring aimed at securing liquidity and supporting its refoundation plan, with continuous negotiations ongoing with creditors since the October 25, 2022 conciliation process initiated by the Nanterre Commercial Court.

Positive

• Secured €205 million through financing agreements.
• Full drawdown of the A4 Loan, aiding liquidity.
• Ongoing negotiations for a financial restructuring may lead to a more stable financial position.

Negative

• Dependence on loan facilities may indicate ongoing liquidity issues.
• Financial restructuring could imply previous financial instability.

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

Two new drawings totaling €205 million were made by ORPEA (Paris:ORP) at the end of December 2022. The amounts drawn correspond to the A4 Loan, used in full, and the balance of the B Loan.

The situation of the drawings on the various lines of these financings is summarized in the table below:

Loans		A1	A2/A3	A4		B	TOTAL (A+B)		C (C1+C2) (2)
Principal (€m) (1)		700	600	200		229	1 729		1 500
Situation as of 30/06/2022
Drawings		689	198	0		0	887		0
Undrawn amount		11	402	200		229	842		0
Situation as of 27/09/2022
Drawings		700	600	0		155	1 454		796
Undrawn amount		0	0	200		74	274		704
Situation as of 01/12/2022
Drawings		700	600	0		222	1 522		1 500
Undrawn amount		0	0	200		5	205		0
Situation as of 31/12/2022
Drawings		700	600	200		227	1 727		1 500
Undrawn amount		0	0	0		0	0		0

(1) As presented in the Press Release dated 13 June 2022
(2) New financing facilities used to refinance existing unsecured debt (excluding bonds and Schuldschein)

As with previous drawings, these funds will be used to finance and refinance the Group's general corporate purposes.

Background on the financial restructuring

ORPEA SA reminds that it is currently negotiating a financial restructuring, the main objectives of which are to finance its refoundation plan and to secure the liquidity necessary to continue its activities. Discussions are continuing with its financial creditors and third party investors in the context of the amicable conciliation procedure opened by the Nanterre Commercial Court on October 25, 2022.

In compliance with its legal and regulatory obligations, the Company will continue to inform the market of developments through its corporate communications.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230102005089/en/

Investor relations

Orpea



Jean-Baptiste Roussille

j-b.roussille@orpea.net

Benoit Lesieur

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/Image 7



Isabelle Herrier-Naufle

Media relations Director

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

i.herrier-naufle@orpea.net

Charlotte Le Barbier

Image 7

Tel : +33 (0)7 06 78 37 27 60

clebarbier@image7.fr

Source: ORPEA

FAQ

What is the latest loan amount drawn by ORPEA?

ORPEA has drawn a total of €205 million from its financing agreements.

When did ORPEA announce the new drawings?

The announcement was made at the end of December 2022.

What loans were utilized by ORPEA?

The amounts drawn correspond to the full A4 Loan and the remaining balance of the B Loan.

What is the purpose of the new funding drawn by ORPEA?

The funds are intended to finance and refinance the group's general corporate purposes.

What is the status of ORPEA's financial restructuring?

ORPEA is currently negotiating a financial restructuring to secure liquidity and support its business refoundation plan.

When did ORPEA initiate the conciliation procedure?

The conciliation procedure was initiated on October 25, 2022.