RGdS plans €620 million capital increase

Ramsay Générale de Santé (RGdS), the French subsidiary of Ramsay Health Care, intends to raise €620 million (US$700 million) on Euronext Paris in March.

The group wants to refinance the subordinated bonds that it used along with a term loan facility for its US$897.5 million takeover of Swedish healthcare group Capio in November last year, according to IFR Refinitiv.

RGdS’s main shareholders – Ramsay Health Care and Predica, France’s second largest insurer – are expected to take €550 million as cornerstones.

The rights issue is expected to be launched at the end of the month, after the release of its H1 figures on 27 February.

RGdS shares are showing a one-year return of almost 28%.