After receiving a BBB+ rating with a stable outlook from S&P last week, Icade Santé , a 56.8% subsidiary of Icade, successfully launched its first bond issue, with a benchmark size of €500 million, maturing in 2029 and bearing a fixed coupon of 0.875%.

More than 6 times oversubscribed by major investors, this transaction reflects increased investor interest in the fundamentals of Icade Santé, the leading healthcare property investor in France, with a portfolio worth €4.5 billion as of June 30, 2019.

This €500 million inaugural bond issue was very well received by the market and largely oversubscribed. It will help fund Icade Santé’s ambitious expansion plan, which has set the goal of investing €1 billion in France by 2022 on very attractive financing terms.

Olivier Wigniolle Icade CEO

The settlement and admission to trading of the bonds on Euronext Paris are scheduled for November 4, 2019.

The deal was managed by a syndicate of banks made up of HSBC, Crédit Agricole CIB, Société Générale, Natixis and BNP Paribas, assisted by the White & Case law firm.

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Anne-Sophie Lanaute

Head of financial communication and investor relations

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