The sale of its stake in Shanghai RAAS is scheduled to close in the first half of 2024
MADRID, April 23 (EUROPA PRESS) - Grifols has announced the signing of a private placement of 1,000 million euros in 7.5% senior secured bonds, maturing in April 2030, subject to the usual closing conditions for this type of operations.
As explained by the hemoderivatives company, the funds obtained from this transaction will be used to amortize the unsecured bonds maturing in 2025.
The Catalan company has detailed that the terms and guarantees of these bonds are "significantly consistent" with the existing documentation on Grifols' secured debt, including the real guarantees granted and the respective guarantors.
He has also stated that this transaction represents an "important financial milestone", underlining "the confidence of the financial markets in the solidity of Grifols' business and operational resilience."
"The financial strategy undertaken represents an important step forward to address the company's 2025 maturities and reinforces the design of the long-term financial structure," Grifols explained in a press release this Tuesday.
The executive president of Grifols, Thomas Glanzmann, has been "very satisfied with the impeccable execution of this agreement, which reflects the strength of Grifols' business and the confidence that the debt market has in its financial health."
"This placement not only enhances our capital structure but also reinforces our continued commitment to innovation and leadership in the healthcare industry," Glanzmann added.
The notes will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an equivalent exemption from registration requirements.
Grifols has had Osborne Clarke and Proskauer Rose LLP as legal advisors for this operation, while Deutsche Bank has been the company's placement agent.
At the same time, Grifols has assured that it continues to make progress towards closing the sale of 20% of its stake in Shanghai RAAS to the Haier Group for 1.8 billion US dollars.
The blood products firm has guaranteed that this strategic agreement "is progressing as planned and is expected to be closed in the first half of 2024."
However, the income derived from this divestment will be used to reduce Grifols' secured debt maturing in 2025, contributing to the improvement of its financial stability.
