Asklepios places its first Social Schuldschein loan of EUR 500.0 million

Asklepios Kliniken GmbH & Co. KGaA successfully refinanced itself through a Social Schuldschein loan issuance amounting to EUR 500.0 million. The new Schuldschein was placed with maturities of 3, 5, 7, and 10 years among both existing and new investors.

The structure as a Social Schuldschein loan, through which the issuance proceeds under the newly established Social Finance Framework can be allocated to the area of social healthcare infrastructure, met with significant investor interest. Despite challenging market conditions, the issuance volume was doubled from the initial EUR 250.0 million to a total of EUR 500.0 million.

In addition to the official Schulschein marketing, existing investors with maturities in 2025 had the opportunity to reinvest their Schuldschein holdings early in the new Social Schuldschein through an exchange offer.

“The new Social Schuldschein loan enables us to finance investments in our healthcare infrastructure, thus ensuring a clear allocation of funds to the social benefit of our daily actions as a healthcare group,” says Hafid Rifi, Chief Financial Officer of the Asklepios Group. "Moreover, establishing the Asklepios Social Finance Framework marks an important step in further integrating our sustainability ambitions into our financing strategy," Rifi continues. "We are pleased with the strong demand from both existing and new investors, underscoring trust in our business model and corporate strategy once again."

“With 35% of the issuance volume, the share of foreign investors was high once again,” adds Benedikt Brörmann, Group Head of Corporate Finance & Treasury at Asklepios. "We were also able to place approximately 20% of the issuance volume with new investors," says Brörmann. “The success of this year’s transaction was due to the compelling Asklepios credit story combined with the right marketing strategy and timing.”

The placement of the Social Schuldschein loan was supported by Landesbank Hessen-Thüringen, ING Bank, Landesbank Baden-Württemberg, and UniCredit as arrangers. Linklaters LLP acted as Asklepios' legal advisor.