Moody’s rates Grunenthal notes B1

Moody’s Investors Service said it rated Grunenthal GmbH’s planned €300 million of backed senior secured notes due 2030 B1.

The B1 ratings on the issuer’s senior secured notes and its parent Grunenthal Pharma GmbH & Co. KG are unchanged, the agency said.

Grunenthal will use the proceeds to repay the €200 million bridge loan facility established in July to partially fund the Nebido acquisition and €75 million of promissory notes maturing in 2024, cover transaction costs and add cash to the balance sheet.

The outlook for both companies is positive.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.