Medica Website - December 20, 2010
MEDICA, a leading provider of long and short-term dependency care in France, announced today the sale and leaseback of a portion of its property assets.
The new finance lease was signed on 17 December 2010 under a club deal with Natixis Bail, a wholly-owned subsidiary of Natixis, and Finamur, a wholly-owned subsidiary of Credit Agricole Leasing (co-leads) and Oseo Financement. Its main terms are as follows:
- Amount: €130 million
- Term: 12 years
- Rate: 3-month Euribor 120 bps
The lease has enabled MEDICA to diversify and optimise the terms of its financing by setting up a long-term property loan. The transaction, which was made possible by the quality of the underlying properties, also allows MEDICA to maintain control over its assets due to the purchase option exercisable at a future date.
The transaction covers 19 facilities with a total of some 1,400 beds.
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