S&P affirms Nemera with new loan

S&P said it affirmed its B- ratings for Nemera (Financiere N) and its senior secured group facilities, including its new €100 million add-on to its term loan. The recovery rating on the facilities is unchanged at 3.

The new loan will temporarily boost S&P Global Ratings-adjusted debt to EBITDA beyond the previous projection to 7.7x in 2024, the agency said.

Nemera intends to use the new loan to increase capacity and set up additional production lines at its manufacturing site in Szczecin, Poland to serve a new multiyear customer contract for a new class of diabetes and weight-loss drugs, related to the Glucagon-like peptide-1.

The outlook is stable.

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