Korian Publishes Its Report on the Allocation and Impact of the Inaugural Social Bond Issued in October 2021
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Regulatory News:
Korian (Paris:KORI), the leading European care services group for elderly and fragile people, announces that it publishes its Social Bond Report in line with the transparency commitments taken in the Social Financing Framework and a year after its inaugural Social Bond issuance.
In October 2021, Korian successfully issued an inaugural €300m 7-year Social Bond, marking a new step in the Group’s sustainable finance journey by enlarging the scope of its sustainable financing instruments, after the issuance of a Sustainability-Linked Euro Private Placement in 2020 and a debut Green Bond issue in June 2021.
This report provides an overview of the allocation and impact of the Social Bond proceeds. All funds raised have been fully allocated to 6 projects falling under the 3 Eligible Social categories defined in the 2021 Social Financing Framework:
- Long-term care nursing homes
- Medical care and clinics
- Proximity and community services, housing solutions, and digital technologies
The report includes case studies for each of the 6 projects, detailing their sustainability features and main impact metrics.
In line with the external verification commitments taken in the Social Financing Framework, Korian has asked its auditors Mazars and E&Y to perform the verifications regarding the internal tracking and allocation of funds as reported in this reporting. The auditors’ attestation is available in the Sustainable Finance section of the Korian website together with the allocation and impact reporting.
The report is a renewed testimony of Korian’s ESG commitments to make a positive contribution to society everywhere the Group operates, together with all its stakeholders.
Forthcoming events:
27th October 2022 – Third quarter 2022 revenue
About Korian
Korian, the leading European care services group for elderly and fragile people. www.korian.com
Korian has been listed on Euronext Paris Section A since November 2006 and is included in the following indices: SBF 120, CAC Health Care, CAC Mid 60, CAC Mid & Small and MSCI Global Small Cap
Euronext ticker: KORI - ISIN: FR0010386334 – Reuters: KORI.PA – Bloomberg: KORI.FP
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