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Icade Capital/Financing Update 2019
1424_iss_2019-10-25_f7831b46-1193-4dae-980c-4de96caa0c67.pdf
Capital/Financing Update
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PRESS RELEASE Issy-les-Moulineaux, October 25, 2019, 5:45 p.m.
ICADE SANTÉ SUCCESSFULLY COMPLETES ITS INAUGURAL BOND ISSUE
(€500M, 10-YEAR MATURITY, COUPON OF 0.875%)
After receiving a BBB+ rating with a stable outlook from S&P last week, Icade Santé1 , a 56.8% subsidiary of Icade, successfully launched its first bond issue, with a benchmark size of €500 million, maturing in 2029 and bearing a fixed coupon of 0.875%.
More than 6 times oversubscribed by major investors, this transaction reflects increased investor interest in the fundamentals of Icade Santé, the leading healthcare property investor in France, with a portfolio worth €4.5 billion as of June 30, 2019.
According to Olivier Wigniolle, CEO of Icade: "This €500 million inaugural bond issue was very well received by the market and largely oversubscribed. It will help fund Icade Santé's ambitious expansion plan, which has set the goal of investing €1 billion in France by 2022 on very attractive financing terms."
The settlement and admission to trading of the bonds on Euronext Paris are scheduled for November 4, 2019.
The deal was managed by a syndicate of banks made up of HSBC, Crédit Agricole CIB, Société Générale, Natixis and BNP Paribas, assisted by the White & Case law firm.
ABOUT ICADE
Building for every future
As an investor and a developer, Icade is an integrated real estate player which designs innovative real estate products and services adapted to new urban lifestyles and habits. By placing corporate social responsibility and innovation at the core of its strategy, Icade is working closely with stakeholders and users in the cities local authorities and communities, companies and employees, institutions and associations… As an office and healthcare property investor (portfolio value of €11.7bn as of 06/30/19 on a proportionate consolidation basis) and as a property developer (2018 economic revenues of €1,251m), Icade has been able to reinvent the real estate business and foster the emergence of tomorrow's greener, smarter and more responsible cities. Icade is a significant player in the Greater Paris area and major French cities. Icade is listed on Euronext Paris as a French Listed Real Estate Investment Company (SIIC). Its leading shareholder is the Caisse des dépôts Group.
ABOUT ICADE SANTÉ
With a portfolio of €4.5 billion (100%) as of June 30, 2019, Icade Santé is the leading healthcare property investor in France. A 56.86% owned subsidiary of the Icade Group, Icade Santé draws on its proven expertise, its long-term shareholders as well as its extensive knowledge of the real estate value chain. Since 2017, Icade Santé has pursued a strategy of diversification into the nursing home segment.
The text of this press release is available on the Icade website: www.icade.fr
| CONTACTS | |
|---|---|
| Anne-Sophie Lanaute Head of Financial Communication and Investor Relations |
Charlotte Pajaud-Blanchard Press Relations Manager |
| +33(0)1 41 57 70 29 | +33(0)1 41 57 71 19 |
| [email protected] | [email protected] |
1 Icade Santé is the 56.8% owned subsidiary of Icade that owns the assets in the Healthcare Property Investment Division's portfolio that are located in France
DISCLAIMER
This press release is for information purposes only and does not constitute an offer to sell or a solicitation to purchase any securities in any jurisdiction. No action has been undertaken or will be undertaken to make available any bonds to any retail investor in the European Economic Area. In France, a listing prospectus will be submitted to the approval of the French Autorité des marchés financiers for a listing of the bonds on the regulated market of Euronext Paris. Settlement-delivery remains subject to this approval. This press release is not an offer for sale within the United States of any security of Icade Santé or any of its affiliates. Securities of Icade Santé or any of its affiliates may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended, or unless exempt from such registration. Release, publication or distribution of this press release is forbidden in any jurisdiction where such release, publication or distribution would violate applicable laws or regulations.