Talecris' CEO says capital structure now supports long-term growth

By Jennifer Lanning Drey

Portland, Ore., March 17 - Talecris Biotherapeutics Holdings Corp. now has a capital structure that will support its long-term growth plans after using proceeds from an initial public offering to pay down debt and issuing $600 million of 7¾% senior unsecured notes in 2009, chief executive officer Lawrence Stern said Wednesday.

"2009 was a great year for us in terms of restructuring our balance sheet and providing a flexible long-term capital structure," Stern said during a presentation at the Goldman Sachs Leveraged Finance Conference in New York.

The company reduced its debt to $600 million from $1.1 billion through the various transactions.

As a result, its leverage ratio decreased to 1.6, a level that the company's chief financial officer John M. Hanson said it is comfortable with.

During 2010, Talecris will continue to invest in its organic growth strategy, with capital expenditures planned in the $180 million to $190 million range.

Capital spending is expected to total $750 million to $800 million over the next five years, Stern said.

Talecris is a Triangle Park, N.C., biotherapeutics company.

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