ORPEA: Adhesion to the Restructuring Plan Proposed by the Company of a Majority of Its Unsecured Financial Creditors

ORPEA S.A. announced that as of March 10, 2023, approximately 51% of its unsecured financial creditors, totaling around 1.9 billion euros, have adhered to a lock-up agreement stemming from a financial restructuring process initiated on February 14, 2023.

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PUTEAUX, France--(BUSINESS WIRE)-- Regulatory News:

ORPEA S.A. (Paris:ORP) (the “Company”) announces that as of 10 March, which is the longstop date to accede to the lock-up agreement relating to the financial restructuring of the Company concluded on 14 February 2023 with, on the one hand, a group of French long-term investors led by the Caisse des Dépôts, accompanied by CNP Assurances, MAIF and MACSF, and, on the other hand, five institutions holding unsecured debt of the Company (the “SteerCo”)¹, approximately 51% of the unsecured financial creditors of the Company² (representing unsecured debt of approximately 1.9 billion euros) have adhered to the lock-up agreement.

As planned, the Company contemplates to file, within the next days, a request before the specialised Commercial court of Nanterre for the opening of an accelerated safeguard proceeding in order to implement its financial restructuring plan.

About ORPEA

ORPEA is a leading global player, expert in the care of all types of frailty. The Group operates in 22 countries and covers three core businesses: care for the elderly (nursing homes, assisted living, home care), post-acute and rehabilitation care and mental health care (specialized clinics). It has more than 72,000 employees and welcomes more than 255,000 patients and residents each year.

https://www.orpea-group.com/en/

ORPEA is listed on Euronext Paris (ISIN: FR0000184798) and is a member of the SBF 120, STOXX 600 Europe, MSCI Small Cap Europe and CAC Mid 60 indices.

¹ See the press release published by the Company on 14 February 2023.

² Including the members of the SteerCo, which are the initial signatories of the Lock-Up Agreement.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230313005336/en/

Investor Relations
ORPEA
Benoit Lesieur
Investor Relations Director
b.lesieur@orpea.net

Toll free tel. nb. for shareholders:
+33 (0) 805 480 480

Investor Relations
NewCap
Dusan Oresansky
Tel.: +33 (0)1 44 71 94 94
ORPEA@newcap.eu

Media Relations
ORPEA
Isabelle Herrier-Naufle
Media Relations Director
Tel.: +33 (0)7 70 29 53 74
i.herrier-naufle@orpea.net

Image 7
Charlotte Le Barbier
Tel.: +33 (0)6 78 37 27 60
clebarbier@image7.fr

Laurence Heilbronn
Tel.: +33 (0)6 89 87 61 37
lheilbronn@image7.fr

Source: ORPEA