Fresenius completes €2.25 billion equivalent facility for refinancing

By Sara Rosenberg

New York, Dec. 20 - Fresenius SE & Co. KGaA closed on its €2.25 billion equivalent five-year credit facility comprised of a $300 million revolver, a €600 million revolver, a $1 billion term loan A and a €650 million term loan A, according to a news release.

Proceeds are being used to refinance the company's existing revolver and term loan A, both due in September 2013, and for general corporate purposes.

The facility is structured as a delayed-draw deal and is expected to fund in June 2013.

The company came to market now to take advantage of favorable financing conditions in the bank market, and going forward, the refinancing will considerably reduce interest expenses, the release said.

Fresenius is a Bad Homburg, Germany-based provider of dialysis services and products.

© 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.