Big pharma, Financing

Merck KGaA closes $2.6 billion re financing

Posted on 28 March 2013

Tags: , ,

Merck KGaA, a big pharma company, announced the successful closing of a € 2 billion syndicated loan financing.

The syndicated loan financing was underwritten by an international group of banks and has a tenor of five years with extension options for a total tenor of seven years.

It replaces an existing, unused € 2 billion loan facility that would have expired in 2014.

Merck coordinated the transaction itself.

Nineteen banks joined the syndicated loan facility, which was heavily oversubscribed and led to a corresponding scale-back of loan commitments.

The loan facility is available for general corporate purposes and can also be used for growth projects.

In recent months, the rating agencies Standard & Poor's and Moody's both upgraded Merck by one notch.

Merck now has an A- rating from S&P and a Baa1 rating from Moody's. Both ratings are with a stable outlook.

For further deal information visit Current Agreements (subscription required)


Read: latest life science partnering, M&A, financing and deal talk updates 

Read: more on financing deals in pharma, biotech, life science partnering deal news, insights and glossary

View: Current Partnering’s Financing Scorecard – view top life science financing deals by value

Signup: Current Partnering Dealmakers Update – weekly newsletter providing the latest life science industry deal news, deal making trends, partnering events – sign up now

Signup: Current Agreements Deals Review – monthly newsletter – reviewing the previous month’s life science deal making – partnering, M&A and financing – sign up now

Subscribe: Current Agreements life sciences partnering, M&A and financing deals database – find out more

Follow us on: LinkedIn Current Partnering | LinkedIn Business Development Network | @Currentpartner on Twitter

Print Friendly, PDF & Email

Leave a Reply