Germany’s Grunenthal extends maturity of €535 million term loan

By Rebecca Melvin

New York, Feb. 12 – Grunenthal Group announced it has obtained an extension of its €535 million term loan bank facilities, aligning the term with the company’s revolving credit facility maturity.

The extension pushes more than 60% of Grunenthal’s debt facilities to a maturity of 2024 or later.

“By extending the maturity of our financing, we have gained additional flexibility to further fund our growth strategy. We will continue to explore opportunities to further support our organic growth with targeted acquisitions, that fit our EBITDA and cash flows accretive acquisition strategy,” Grunenthal’s chief financial officier, Fabian Raschke, said in a release.

The term loan amendment was transacted in the broader context of the company’s acquisition of the European rights to the lipid-lowering Crestor medication, which was completed this month.

The global pharmaceutical company is based in Aachen, Germany.

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