Gerresheimer AG has signed a promissory loan agreement for a total of EUR 325m. The transaction with an initial issue amount of €150m was substantially oversubscribed. Consequently, the total amount was increased to €325m.
Gerresheimer signs agreement for €325m promissory loan
The promissory loan comprises two equal tranches with terms of three and five years. These feature both fixed and variable interest rates. The transaction is coordinated by Commerzbank, Landesbank Baden-Württemberg and UniCredit. For the most part, the funds from the loan are being used to repay the five-year tranche under the 2015 promissory loan transaction.
Dr Bernd Metzner, CFO of Gerresheimer AG, said: “The high oversubscription ratio reflects the confidence held by our investors in our business model and the successful long-term performance of our business. We are pleased to be able to complete the refinancing of the maturing promissory loan on even more attractive terms.”
Completion is scheduled for November 10, 2020.
Gerresheimer is a leading global partner to the pharma and healthcare industry. With specialty glass and plastic products, the Company contributes to health and well-being. Gerresheimer has worldwide operations and around 10,000 employees manufacture products in local markets close to its customers. With plants in Europe, North America, South America and Asia, Gerresheimer generates revenues of approximately €1.4bn.