Moody’s affirms Nemera with new loan

Moody’s Ratings said it affirmed its B3 ratings on Financiere N (Nemera), including the B3 ratings on its senior secured bank credit facilities and its new €100 million add-on to the term loan B maturing in 2029.

The company intends to use about half of the proceeds of the add-on to fund capital expenditure investment related to capacity expansion to accommodate the production of drug delivery devices to a new blue chip pharma contract for GLP-1 products. The rest will be used to obtain added liquidity to increase the capacity for already existing devices platforms.

The outlook is stable.

© 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.