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Syndicated Credit Facilities for APP Pharmaceuticals acquisition financing increased by US$ 500 million due to strong demand
Given strong demand from institutional investors, resulting in substantial oversubscription, Fresenius has increased the Facilities by US$ 500 million to US$ 2,950 million.
Prior to general syndication, the Facilities consisted of revolving credit facilities of US$ 450 million with a maturity of 5 years, a US$ 1,000 million Term Loan A with a maturity of 5 years and a US$ 1,000 million Term Loan B with a maturity of 6 years. The Term Loan B has now been increased to US$ 1,500 million.
Standard & Poor's today announced that the ratings of Fresenius SE and its various debt instruments remain unchanged following the US$ 500 million increase of the Facilities.
The additional funds will be used to reduce the US$ 1,300 million bridge credit facility which was drawn at the closing of the APP Pharmaceuticals acquisition in early September, to US$ 800 million. The bridge credit facility has a maturity of up to 7 years.
This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.
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