{"id":17924,"date":"2023-06-04T04:36:28","date_gmt":"2023-06-04T08:36:28","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/orpea-draws-first-200-million-euros-from-new-financing-as-restructuring-plan-continues\/"},"modified":"2023-06-04T04:36:29","modified_gmt":"2023-06-04T08:36:29","slug":"orpea-draws-first-200-million-euros-from-new-financing-as-restructuring-plan-continues","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=17924","title":{"rendered":"Orpea draws first 200 million euros from new financing as restructuring plan continues"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: The logo of French care homes company Orpea is seen at the entrance of a retirement home (EHPAD – Housing Establishment for Dependant Elderly People) in Les Lilas, near Paris, France, February 1, 2023. REUTERS\/Sarah Meyssonnier\/File Photo<\/span>
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(Reuters) – French company Orpea, hit by allegations of malpractice at its care homes and a sharp drop in valuation, said on Friday it made a drawdown of 200 million euros ($214.24 million) from new financing by its main banking partners.<\/p>\n

Orpea said it will use the funds to finance and refinance corporate purposes of its real estate Niort94 subsidiary, including the reimbursement of the unit’s debt to its parent company. <\/p>\n

Orpea had a tough 2022, after the publication of a book by journalist Victor Castanet led to much soul-searching over how the elderly are treated in nursing homes in France. The company has rejected the allegations of widespread abuse.<\/p>\n

In February the group announced a financial restructuring plan giving bondholders the lion’s share of control after a deal was reached with state financial institution Caisse des Depots & Consignations (CDC) and other investors.<\/p>\n

The company said on Friday it is continuing with the execution of the restructuring agreement.<\/p>\n

($1 = 0.9335 euro) <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: The logo of French care homes company Orpea is seen at the entrance of a retirement home (EHPAD – Housing Establishment for Dependant Elderly People) in Les Lilas, near Paris, France, February 1, 2023. REUTERS\/Sarah Meyssonnier\/File Photo (Reuters) – French company Orpea, hit by allegations of malpractice at its care homes […]<\/p>\n","protected":false},"author":1,"featured_media":3798,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-17924","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nOrpea draws first 200 million euros from new financing as restructuring plan continues | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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