Orpea skips dividend, signs new financing deal to handle debt

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Reuters UK

By Diana Mandia (Reuters) -French care home group Orpea, which faces criminal complaints over how treats its elderly residents, said it would pay no dividend on 2021 earnings and disclosed an emergency deal with banks to handle major debt repayments. At the centre of allegations of malpractice that it has repeatedly denied, the group said that with access to financial markets being closed off and a planned asset disposal programme slowing down, it had signed an agreement with its banks for a secured syndicated facility for a total of 1.73 billion euros. Orpea said the financing package was par…

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