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Gerresheimer concludes EUR 425m debt issue

, Gerresheimer AG
  • Issue substantially oversubscribed, allowing increase in initial amount from EUR 250m to finally EUR 425m
  • Funds used to pay back bridge loan for September acquisition of Centor
  • Sale of glass tubing business closed on November 2, 2015

Gerresheimer AG, one of the leading partners to the pharma and healthcare industry worldwide, has successfully wrapped up its refinancing with the launch of a debt issue (Schuldschein) for a total amount of EUR 425m.

Coordinated by Commerzbank, DZ Bank and Landesbank Baden-Württemberg, the transaction with an initial issue amount of EUR 250m was substantially oversubscribed. Consequently, the total amount was increased to EUR 425m. 

The debt issue includes multiple tranches with terms of five, seven and ten years. It features both fixed and variable interest rates. The funds from the debt issue serve to pay back part of the EUR 550m bridge loan taken out by Gerresheimer to finance the Centor acquisition mid-year.

After deducting the proceeds from the debt issue, the outstanding amount of the bridge loan is to be met pro rata out of the Company’s proceeds from the sale of its glass tubing business, which was closed on November 2, 2015 and generated a cash inflow of some EUR 196m.

, Gerresheimer AG

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