Corporate | 1 December 2011 09:51
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STADA Arzneimittel AG / Key word(s): Miscellaneous
Corporate News STADA strengthens long-term refinancing with successful securing of promissory notes in the amount of EUR 400 million Bad Vilbel, December 1, 2011 – STADA Arzneimittel AG has successfully secured promissory notes in the amount of EUR 400 million and thus further strengthened the long-term refinancing of the Group. In view of the strong demand from national and international investors, it was possible to increase the volume of these promissory notes several times within the scope of the securing process. The newly secured promissory notes consist of four tranches with terms between three and five years that are partially furnished with a variable interest rate and partially with a fixed interest rate. At an average of 4.27%, the fixed interest rate is clearly below the interest rate at which STADA could have financed the alternatively considered placement of a corporate bond at current market conditions.
The proceeds will, in particular, serve as financing for the acquisitions announced by STADA and as refinancing of expiring promissory notes. Overall, through the new promissory notes with staggered maturity dates, STADA smooths out the maturity dates over the coming years and further strengthens the unchanged stable financing structure, to which, in addition to the five-year corporate bond that was placed in 2010 in the amount of EUR 350 million, the long-term promissory notes now in the total amount of
The Executive Board of STADA sees the strong interest of investors in these new financing instruments as an indication of the confidence in the viability and long-term performance of the STADA Group. Securing of the promissory note was accompanied by the Landesbank Hessen-Thüringen and the Landesbank Baden-Württemberg.
Additional information:
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| Language: | English | |
| Company: | STADA Arzneimittel AG | |
| Stadastraße 2-18 | ||
| 61118 Bad Vilbel | ||
| Germany | ||
| Phone: | +49 (0)6101 603- 113 | |
| Fax: | +49 (0)6101 603- 506 | |
| E-mail: | communications@stada.de | |
| Internet: | www.stada.de | |
| ISIN: | DE0007251803, DE0007251845, | |
| WKN: | 725180, 725184, | |
| Listed: | Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, Hannover, München, Stuttgart | |
| End of News | DGAP News-Service |
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| 148278 01.12.2011 |