Le mie ricette per la real estate communityThe ORPEA Group announces its expansion into Brazil and Portugal and the early redemption of its ORNANE 2020 bonds.
Yves Le Masne, Chief Executive Officer of ORPEA, commented:
«ORPEA is already present in 10 countries, and in line with its strategy, ORPEA is accelerating its international expansion by expanding to South America and strengthening its European footprint. Brazil and Portugal offer opportunities ideally suited to the Group growth model. We already have 2,000 beds in Brazil and 1,000 beds in Portugal under construction in prime locations in these countries.
For this development, which mainly involves the construction of new facilities and will thus create substantial value over the long term, ORPEA is partnering with the SIS group. ORPEA has a longstanding relationship with the SIS group, which has considerable expertise in both these countries.
The expansion into South America via Brazil represents a tremendous promising source of growth for the future, as there is very strong demand for long-term care with a high-quality offering. Working together with the SIS group, ORPEA will actively continue to ramp up its activities in Brazil, both through additional construction projects and potential selective acquisitions.
The development in Portugal will help amplify the European network.
At the same time, the early redemption of the ORNANE bonds in shares will help to reduce the borrowing costs and reinforce the Group investment capacity in order to finance the development and bolster the real estate portfolio.
With a presence across 12 countries on 3 continents, ORPEA is now a world leader in long-term care, with a range of services and care offers meeting the highest quality standards».