Fresenius seeks to amend reporting guidelines under 4% notes due 2024

By Marisa Wong

Los Angeles, Feb. 1 – Fresenius SE & Co. KGAA announced it is soliciting consents from holders of its €450 million 4% senior notes due 2024 (ISINs: XS1026109204, XS1026109543) originally issued by Fresenius Finance BV to amend the indenture governing the notes.

Specifically, the company is seeking changes to the indenture that would allow it to report its results in IFRS without requiring a reconciliation to U.S. GAAP and amend some defined terms to refer to “accounting principles” rather than “U.S. GAAP.”

The company is offering a consent fee of €1.00 per €1,000 principal amount of notes for which a consent is delivered.

The consent solicitation expires at 11 a.m. ET on Feb. 5.

Payment of the consent fee is expected to be made on Feb. 12.

Deutsche Bank AG (+44 20 7545 8011, attn.: liability management group) is the solicitation agent.

Lucid Issuer Services Ltd. (+44 207 704 0880, fresenius@lucid-is.com, attn: Arlind Bytyqi / Mu-yen Lo) is the information and tabulation agent.

Fresenius is a German health care company that offers products and services for dialysis, hospitals and outpatient treatment.

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