on Cheplapharm Arzneimittel GmbH (isin : DE000CHP2222)
CHEPLAPHARM's Successful €950m Bond Issuance
CHEPLAPHARM Arzneimittel GmbH, an international pharmaceutical platform, has secured a successful refinancing of €950 million in senior secured notes at a 6.750% interest rate. The funds will be used to fully redeem two bond tranches maturing in 2028 worth around €750 million, and partly repay a Term Loan B due in 2029. This move extends the company's maturity profile.
Investor interest was notably high, leading to the bond issue being oversubscribed several times over. Initially planned at €750 million, the volume was increased due to demand, while concurrently reducing the coupon to 6.750%.
Citigroup and Deutsche Bank coordinated the transaction, with legal advice from Latham & Watkins and Freshfields LLP for CHEPLAPHARM and the banks respectively. The EUR notes are set to mature in 2032, with their issuance scheduled for February 9, 2026, pending customary conditions.
R. P.
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