Asklepios: Issue of a Schuldschein loan agreement worth EUR 780 million

Asklepios Kliniken Verwaltungsgesellschaft mbH has successfully issued a Schuldschein loan agreement worth EUR 780 million. The demand from institutional investors such as banks and insurers was so high that the transaction was oversubscribed several times over. The volume of EUR 300 million originally targeted was therefore increased significantly. Overall, an optimum conjunction of volumes, maturities, financing security and costs was achieved.

The issue is part of the company’s long-term financial strategy, which is aimed in particular at sustainable financing for hospital operations and a continuous improvement of financing conditions. The best possible use was made of the attractive conditions on the Schuldschein market. The Schuldschein is divided into tranches with terms of five, seven and ten years and was offered with both fixed and floating interest rates. The high proportion of fixed tranches steadies Asklepios’ planning security, extends the average term and harmonises the maturity profile. The generated funds will be used for general corporate financing, affordable refinancing and debt restructuring.

“The high demand for our Schuldschein loan agreement underscores the attractiveness of the Asklepios business model. We increased our financing volume, refinanced existing financial liabilities at more favourable conditions and innovatively combined this with a partial buy back, exchange offer and debt push down,” explains Hafid Rifi, CFO of Asklepios. “The stable financial structure is a significant component of our Group focus in order to successfully develop all of our business areas under our new Group structure,” adds Kai Hankeln, CEO.

Since 2010, the healthcare group has been increasingly involving the capital market in its corporate financing. The recent transaction is evidence of the success of this strategy. “We are particularly delighted with the confidence shown in us by new investors and with existing investors who have again invested large volumes in Asklepios,” says Dr Thomas Wolfram, CEO.

The issue of the Schuldschein loan agreement was arranged by Bayerische Landesbank and BNP Paribas as joint book runners. Corporate News can be found at www.asklepios.com/ir.

About Asklepios
The healthcare group Asklepios Kliniken is among the leading private operators of hospitals and healthcare facilities in Germany. The hospital group stands for highly professional care of its patients with a clear commitment to medical quality, innovation and social responsibility. On this basis, Asklepios has been developing dynamically ever since it was founded more than 30 years ago. The group currently has 150 healthcare facilities across Germany. Its facilities include acute hospitals providing all levels of care, specialist clinics, psychiatric and forensic facilities, rehabilitation clinics, nursing homes and medical centres. In the 2016 financial year, 2.3 million patients were treated in the Asklepios Group’s facilities. The company has more than 46,000 employees.

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