Calyon acted as joint bookrunner with Deutsche Bank, in the EUR 63 million capital increase of ORPEA (around 5 % of the issued share capital).

This transaction was launched, for the first time in France, via an accelerated placement of new shares to institutional investors without preferential subscription rights and without prospectus, in accordance with new French rules (L411-2-article of the Code Monétaire et Financier).

The operation was increased from EUR 50 to EUR 63 million and the discount was of 4.4 %, which confirm the success of this transaction.

This capital increase will strengthen the financial structure of the company and will allow ORPEA to grab new acquisition strategic opportunities.

"After the arrangement by Calyon of a EUR 217 million OBSAAR (bond with warrants and/or redeemable share purchase warrants) in August 2009, Calyon confirms its strong relationship with ORPEA." said Baptiste Schaad, Senior Banker.

Orpea is a leading player in long-term care (retirement homes), post-acute care and psychiatric care.