Medicover raises EUR 277 million with inaugural social financing schuldschein loan

Medicover has successfully carried out its second Schuldschein issue (a German private placement debt instrument) under its newly established Social Financing Framework, with a total of EUR 277 million in Euro-denominated tranches with maturities of 5.5, 7.5 and 10 years, at fixed and floating rates. The issue was upscaled from the initially offered EUR 100 million due to strong demand from investors. This transaction represents the largest social financing Schuldschein.

With this transaction, Medicover was able to diversify its sources of financing and also attract returning as well as new investors. Participation was a mixture of German domestic banks, insurers, and fund managers. Demand across all tranches was high, reflecting the company's good financial standing and interest in social financing investments. The Medicover's Social Financing Framework is a use of proceeds structure with a second party opinion issued by DNV GL. The use of proceeds shall contribute to the World Bank's Universal Health Coverage goals, ensuring that people have access to essential health care services.

Medicover further strengthen liquidity and make use of attractive market conditions with margins of 0.9%, 1.1% and 1.3% for both the fixed and floating rate tranches, in 5.5, 7.5 and 10 years, respectively.

Landesbank Hessen-Thüringen Girozentrale (Helaba), ING Bank, a branch of ING-DiBa AG, and Skandinaviska Enskilda Banken AB (publ) (SEB), Frankfurt Branch acted as joint arrangers on the deal and SEB as sole social structuring advisor.

For further information, please contact:
Hanna Bjellquist, Head of Investor Relations
+46 703 033 272

Medicover is a leading international healthcare and diagnostic services company and was founded in 1995. Medicover operates a large number of ambulatory clinics, hospitals, specialty-care facilities,laboratories and blood-drawing points and the largest markets are Poland and Germany. In 2020, Medicover had revenue of EUR 998 million and more than 32,000 employees. For more information, go to www.medicover.com

Source: Cision

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