€ 25m refinancing
Clairfield Benelux advised Medsen and Ceban on the refinancing of € 25m in credit facilities. Medsen and Ceban are portfolio companies of Van Lanschot Participaties. Medsen is a community pharmacy chain with 44 locations spread across the Netherlands. The compounding pharmacy Ceban prepares personalised medications on a semi-industrial scale.
Team members responsible for Healthcare
Other Healthcare related transactions
€ 112m bond issue
On November 7 2017, Rivage Investment and Vivalto Home Belgium reached financial close on the availability of €100m in debt securities of which €53m was immediately raised.
The first tranche (€53m) was used to refinance the financial leases on seven of their nursing homes. This allowed Vivalto Home Belgium to benefit from the favourable interest rate environment. After developing a new financial model, Clairfield Benelux raised and closed in August 2018 slightly more than the remainder of the available funds (€48m). These funds will be used to acquire new nursing homes in the future.
The debt securities package is obtained under a project finance structure and will be repaid over a period of 30 years, with repayment taking place on the basis of a ‘sculpted’ payment schedule which is commonly used in project financing.
In March 2020, Clairfield raised an additional €11m in a third tranche for the renovation of one of the elderly care houses.
Vivalto Home Belgium is a Brussels based company engaged in providing residential services to elderly citizens.
Rivage Investment is a French alternative portfolio management and advisory firm with expertise in European infrastructure debt, private debt and listed equities. Their main clients are institutional parties such as pension funds and insurers.