France's Clariane raises 140 mln euros through real-estate partnership

Clariane SE

15/12/2023 17:49

Dec 15 (Reuters) - French care group Clariane  CLARI.PA 
on Friday said it had entered into a real-estate partnership
with its main shareholder Credit Agricole Assurances, as part of
a refinancing plan announced last month.
    Crédit Agricole Assurances has subscribed to 140 million
euros worth of bonds issued by Clariane's real-estate
subsidiary, which holds 19 French assets with a gross asset
value of 268 million euros included in the deal. 
    The bonds, with a 7-year maturity and 10.5% fixed coupon,
are redeemable into shares of the subsidiary.
    Clariane said negotiations on a second partnership worth 90
million euros involving assets in the United Kingdom were
ongoing and expected to be signed by the end of the year.
    The group said in November it would put in place a plan to
raise around 1.5 billion euros including asset disposals and a
capital increase, citing "growing constraints" to refinance its
pile of debt.

 (Reporting by Diana Mandiá; Editing by Kirsten Donovan)
 ((diana.mandiaalvarez@thomsonreuters.com))