Asklepios Kliniken €580 million schuldschein issue

Overview:

• Asklepios Kliniken issued a €580 million schuldschein (promissory note) in what was the biggest debt financing in the company's 30 year history.
• The issue was oversubscribed, enabling the German healthcare group to increase the volume from the initial offered amount of €200 million. 
• The schuldschein was issued in five tranches - a mix of fixed and variable rates - with maturities of five, seven, 10, 12 and 15 years.
• Asklepios Kliniken did not report the rates of the tranches. 
• Bavarian Landesbank, BNP Paribas, Hessische Landesbank and Crédit Agricole were arrangers on the deal.
• The banks did not use outside counsel. 

Ben Naylor - Regional Editor