By Lisa Kerner
Charlotte, N.C., April 26 – Stada Arzneimittel AG issued four tranches of promissory notes (“schuldschein”) totaling €350 million.
The notes have terms of between five and seven years, and have both fixed and variable interest rates.
Proceeds were used to refinance €188 million of promissory notes that were to expire in December, according to a news release.
“As a result of the high demand from numerous promissory note investors, we were able to place a much higher volume than originally planned,” said chief financial officer Helmut Kraft.
The transaction was supported by Landesbank Hessen-Thüringen and Landesbank Baden-Wurttemberg.
Stada Arzneimittel is a pharmaceutical company based in Bad Vilbel, Germany.
| Issuer: | Stada Arzneimittel AG
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| Issue: | Schuldschein
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| Amount: | €350 million
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| Coupon: | Fixed and variable interest rate
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| Maturity: | Five to seven years
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