Asklepios secures early refinancing by placing new Schuldschein loan agreement

• Successful placement with existing and new investors
• Maturity profile extended by redeeming selected Schuldschein loan maturities

Asklepios Kliniken GmbH & Co. KGaA has secured early refinancing for selected Schuldschein loan agreement maturities for 2022 and 2024 to 2027 as part of a EUR 477.0 million Schuldschein loan issue. The new Schuldschein loan agreement with maturities of 5, 7 and 10 years was placed with existing and new investors using the digital Schuldschein platform vc trade.

As part of an exchange and increase offer, existing investors were able to prematurely extend or increase their Schuldschein commitment. Any new investors who were interested could also participate in the Asklepios Group Schuldschein loan agreement.

“Issuing the new Schuldschein loan agreement is part of our active maturity management and long-term financing strategy,” said Hafid Rifi, Chief Financial Officer of the Asklepios Group. “The Schuldschein loan agreement allowed us to further extend our volume-weighted average term of the maturity profile, optimize the medium to long-term distribution of the maturities and thus further strengthen the Asklepios Group’s financing profile,” added Hafid Rifi. “Especially given ongoing geopolitical uncertainty, the massive surge in inflation and extremely volatile capital markets, the considerable interest shown by investors represents a clear commitment to Asklepios’s business model. As well as the interest demonstrated by our existing investors, this is also made clear by the positive response to our offer among new investors.”

“The Schuldschein market has once again proven to be a more than resilient refinancing platform,” said Benedikt Brörmann, Head of Corporate Finance & Treasury at Asklepios. “The issue volume corresponds exactly to the amount needed for the early repayment of a number of outstanding Schuldschein tranches. In addition, the new Schuldschein helped us make further progress in harmonizing our Schuldschein documentation. Looking back, we found a good time frame for carrying out the transaction and can generate a very good result in terms of the volume, terms and conditions of the Schuldschein loan agreement.”

The placement of the Schuldschein loan agreement was managed by BNP Paribas, ING and Landesbank Baden-Württemberg as the arrangers. Asklepios’s legal adviser was Linklaters LLP.

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Mirjam Constantin

Mirjam Constantin

Leitung Konzernbereich ESG & Sustainability | Manager Investor Relations

Rune Hoffmann

Rune Hoffmann

Konzernbereichsleiter Unternehmenskommunikation & Marketing

About Asklepios

Asklepios Kliniken is one of the leading private operators of hospitals and healthcare facilities in Germany. The hospital group stands for highly qualified care for its patients, with a clear commitment to medical quality, innovation and social responsibility. On this basis, Asklepios has been developing dynamically since it was founded over 35 years ago. The Group currently has around 170 healthcare facilities throughout Germany. These include acute care hospitals of all different care levels, university hospitals, specialist clinics, psychiatric facilities, forensic institutions, rehabilitation clinics, nursing homes and medical centres. In the 2021 financial year, over 3.5 million patients were treated at the Asklepios Group’s facilities. The company has more than 67,000 employees.

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