Merck KGaA: Refinancing of EUR 1 Billion Multi-Currency Revolving Credit Facility

10-May-2005

Merck KGaA announced that it has signed a refinancing of its EUR 1.0 billion credit facility with a group of leading international banks. The seven-year Multi-Currency Revolving Credit Facility provides the German pharmaceutical and chemical group with better economic and contractual terms versus the facility arranged in April 2003. These improvements take advantage of the favorable conditions in the loan markets and reflect Merck's consistently enhanced credit profile.

Deutsche Bank AG, Landesbank Hessen-Thüringen (Helaba) and SG Corporate & Investment Banking acted as Mandated Lead Arrangers and Bookrunners. The syndication targeted only Merck's relationship banks and has received a strong response, with a book raising almost EUR 1.5 billion, or nearly 50 percent oversubscription.

The long-term credit facility will be used for general corporate purposes and for liquidity back-up. Merck's net debt will not be increased by the new facility.

Other news from the department business & finance

Most read news

More news from our other portals

Discover the latest developments in battery technology!