Grünenthal Successfully Extends Bank Term Loan Facilities

AACHEN, Germany, February 12, 2021 / PRNewswire / – Grünenthal announced the successful extension of its existing bank term loan facilities by € 535 million. This amendment was made in the broader context of the acquisition by the company of European rights (excluding Spain and the United Kingdom) to the lipid-lowering drug CRESTOR ™ completed in February 2021. The maturities of term loans are now aligned with the maturity of Grünenthal’s revolving credit facility, further extending the maturity profile of its debt. Over 60% of Grünenthal’s credit facilities now mature in 2024 or later.

“By extending the maturity of our financing, we have gained additional flexibility to continue financing our growth strategy”, declares Fabien Raschke, financial director of Grünenthal. “We will continue to explore opportunities to further support our organic growth with targeted acquisitions, which align with our accretive acquisition strategy for EBITDA and cash flow.”

Grünenthal’s capital structure has enabled it to conclude a series of acquisitions and partnerships in recent years. The company has signed transactions with a total value of more than 1.7 billion US dollars since 2016. This concerns in particular the global rights of Qutenza ™ and the global rights (excluding Japan) the rights of Zomig ™, as well as the European rights of Nexium ™ and worldwide (excluding the US and Japan) the rights to Vimovo ™, which is the largest investment in the company’s history.

“These transactions are essential elements to support Grünenthal’s strategy of generating transactions that strengthen our financial performance and allow us to reinvest in pain research,” explains Fabien Raschke.

About Grünenthal

Grünenthal is a world leader in the management of pain and associated diseases. As a private, science-based pharmaceutical company, we have a long history of providing innovative treatments and cutting-edge technologies to patients around the world. Our goal is to change lives for the better – and innovation is our passion. We focus all of our activities and efforts on realizing our vision of a world without pain.

Grünenthal is headquartered in Aachen, Germany, and has subsidiaries in 29 countries across Europe, Latin America and the United States. Our products are available in over 100 countries. In 2019, Grünenthal employed around 4,700 people and achieved a turnover of 1.4 billion euros.

More information:

Follow us on:

LinkedIn: Grunenthal Group
Instagram: grunenthal

For more information, please contact:

Fabia kehren, External Communication & Editorial Management Manager
Phone. : +49 241 569-3269
[email protected]
Grünenthal GmbH, 52099 Aachen, Germany

SOURCE Grünenthal Group

Source link

Previous Governor Charlie Baker seeks $ 1.2 billion loan to cover Massachusetts unemployment benefits during coronavirus pandemic
Next "Sci-Fi Awesome": US Army Howitzer Shoots Down Cruise Missile