Icade Santé
Icade Santé, a 58.3% owned subsidiary of Icade—with the remainder being owned by institutional investors— holds a portfolio of 132 healthcare facilities, representing assets worth €5 billion (excluding duties, on a full consolidation basis) as of June 30, 2020.
Olivier Wigniolle CEO of Icade Santé, the CEO of Icade SA (which owns a 58.3% stake in Icade Santé)
« Icade Santé is the largest healthcare property investor in France—the leader of a resilient, non-cyclical asset class underpinned by strong fundamentals. »
Less than a year after the placement of its first bond issue of € 500 million listed on Euronext Paris, after obtaining a BBB + stable outlook rating from S&P, Icade Santé carried out in September 2020 its first social bond issue of a size of 600 M €. It will help fund Icade Santé’s expansion plan, which has set the goal of investing €1bn in France by 2022.
Xavier Cheval Deputy CEO Of Icade Santé
« As an investor in nursing homes and other healthcare properties, we help our tenants achieve their goals over the long term. We enable them to provide the best quality of care by constantly upgrading our buildings and making them more sustainable. »
10 September 2020
Less than a year after launching its inaugural bond, Icade Santé has today announced the successful issue of its first social bond, totalling €600m and maturing in 2030 with a fixed coupon of 1.375%. These funds were raised with a 155-bp spread over the reference rate.
Download the press release (PDF - 687 kB)7 September 2020
Icade Santé has today acquired the shares held by one of its minority shareholders representing 2.51% of its own capital. These shares were immediately cancelled as part of a reduction of Icade Santé’s share capital. This transaction has increased Icade’s exposure to the healthcare asset class, with its ownership interest in Icade Santé now standing at 58.3% vs. 56.8% earlier.
Download the press release (PDF - 527 kB)21 July 2020
As Icade Santé’s portfolio consists mainly of private acute care facilities, its tenants have played a crucial role in fighting the pandemic. However, due in part to the measures introduced by the French government in support of healthcare operators, Icade Santé has not felt the full brunt of the Covid-19 crisis. By the end of June, the situation had almost returned to normal, demonstrating the resilience of this asset class.
Download the press release (PDF - 823 kB)