December 20, 2012
Refinancing agreement reached at improved pricing
Fresenius successfully agreed the refinancing of the revolving facilities and Term Loan A of its 2008 syndicated credit agreement. The financing, structured as a Delayed Draw Syndicated Credit Agreement, was very well received in the bank market and substantially oversubscribed. Fresenius was therefore able to significantly increase the originally targeted transaction volume and to improve the pricing.
The company entered into a €2.25 billion syndicated credit agreement, comprised of 5-year revolving facilities (US$300 million and €600 million) and a 5-year Term Loan A (US$1.0 billion and €650 million).
Proceeds will be used to refinance the company's existing revolving facilities and Term Loan A, both maturing in September 2013, as well as for general corporate purposes. The refinancing through a Delayed Draw Syndicated Credit Agreement allows Fresenius to take advantage of the currently favorable financing conditions in the bank market. Funding of the transaction is projected for June 2013.
Going forward, the refinancing of the credit agreement will considerably reduce Group interest expenses.
Fresenius is a health care group with international operations, providing products and services for dialysis, hospital and outpatient medical care. In 2011, Group sales were €16.5 billion. On September 30, 2012, the Fresenius Group had 163,463 employees worldwide.
For more information visit the Company's website at www.fresenius.com.
This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.
Fresenius SE & Co. KGaA
Registered Office: Bad Homburg, Germany
Commercial Register: Amtsgericht Bad Homburg, HRB 11852
Chairman of the Supervisory Board: Dr. Gerd Krick
General Partner: Fresenius Management SE
Registered Office: Bad Homburg, Germany
Commercial Register: Amtsgericht Bad Homburg, HRB 11673
Management Board: Dr. Ulf M. Schneider (Chairman), Rainer Baule, Dr. Francesco De Meo, Dr. Jürgen Götz, Dr. Ben Lipps, Stephan Sturm, Dr. Ernst Wastler
Chairman of the Supervisory Board: Dr. Gerd Krick