Orpea secures 200 mln euros in second draw from new financing

Emeis SA

22/08/2023 07:26

Aug 22 (Reuters) - French nursing care provider Orpea
 ORP.PA  announced on Tuesday a second drawing of 200 million
euros ($218 million) under a new financing agreement with its
main banking partners. 
    It comes after an initial draw of the same amount on June 2,
Orpea said in a statement, adding that the funds will be
allocated to support general corporate objectives, including
debt servicing.
    In late July, Orpea obtained court approval for its
accelerated safeguard plan, a crucial stage in the financial
overhaul of the highly indebted company. 
    The plan had been endorsed by a majority of creditor groups
in June.
    ($1 = 0.9168 euros)

 (Reporting by Dina Kartit; editing by Jason Neely)
 ((Dina.Kartit@thomsonreuters.com;))