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NEW ISSUE: Clariane €333m PNC3 sub notes on the road

HYC European Market: Deal Flow - General

Issuer

Term

Call

Maturity

Size

Ranking

Type

ISIN

Clariane SE

PerpNC3

3

Perpetual

€333m

Sub

Fixed Rate Reset

FR00140198T3

  • Issuer: Clariane SE (CLARFP)
  • Business: Europe’s leading care service provider with activities in non-acute care, healthy aging and dependency prevention
  • Use of Proceeds: Repay in full outstanding €332.5m ODIRNANE bonds, pay fees and expenses
  • Corporate Ratings: B2 (Stable) / B+ (Stable) (Moody's/S&P)
  • Issue Ratings: Unrated
  • Currency: EUR
  • Offering Size: €333,000,000
  • Instrument: Undated NC3 Subordinated Fixed Rate Resettable Notes
  • Ranking: Deeply Subordinated
  • Tenor: Perpetual
  • First Call Date: Year 2.75
  • First Reset Date: Year 3
  • Coupon Step Up: 500bps at First Reset Date
  • Optional Interest Deferral: Optional deferral on any payment date; arrears of interest may be settled in cash at any time, and must be settled under certain conditions
  • Special Event Redemption: Gross-up, withholding tax, tax deductibility, accounting, repurchase (75%), change of control event each at par plus accrued interest and arrears of interest
  • Distribution: Reg S
  • Denominations: €100k x €100k
  • Listing: Euronext Dublin
  • Governing Law: French Law
  • Settlement: 29-Jun-26
  • Joint Global Coordinators and Physical Bookrunners: BNP Paribas (B&D), CACIB, SG
  • Joint Bookrunners: CIC, GS, NTX
  • Marketing: Roadshow (1-on-1s) 22-23 June (Investor call at 10:15pm UKT / 11:15pm CET 22 June.
  • DealRoadshow Information: Visit https://dealroadshow.com and enter the deal entry code: COQUELICOT26
  • GIC Registration Link: https://evercall.co/oacc/83547