Neopharmed Gentili S.p.A. successfully completes the placement of its €750.0 million Senior Secured Notes due 2030
Milan, March 29, 2024 – Neopharmed Gentili S.p.A., a joint stock company (società per azioni) incorporated under the laws of Italy (the “Issuer” or “Neopharmed”), has successfully completed today the placement on the high-yield bond market (the “Offering”) of €750.0 million of Senior Secured Notes, consisting of €350.0 million in aggregate principal amount of Senior Secured Fixed Rate Notes due 2030 and €400.0 million in aggregate principal amount of Senior Secured Floating Rate Notes due 2030 (collectively, the “Notes”).
The Senior Secured Fixed Rate Notes will be issued at an issue price of 100.000% and will bear interest at a rate of 7.125% per annum. The Senior Secured Floating Rate Notes will be issued at an issue price of 99.500% and will bear interest at a rate equal to three-month EURIBOR (subject to a 0% floor) plus 4.250% per annum, reset quarterly.
The issuance and settlement of the Notes is expected to occur on April 8, 2024, subject to customary closing conditions.
Application has been made for the Notes to be listed on the Official List of the Luxembourg Stock Exchange and admitted to trading on the Euro MTF market thereof.
The proceeds of the Offering will be used to refinance in full the €700.0 million senior secured notes issued under a subscription agreement dated as of March 27, 2023, and pay fees and expenses incurred in connection the Offering. The Issuer has also entered into a €130.0 million revolving credit facility agreement with certain financial institutions.
***
Neopharmed Gentili S.p.A.
Neopharmed Gentili is a pharmaceutical company founded in Italy with historic roots in its territory, which is rapidly expanding beyond national borders thanks to a consolidated and reliable experience in M&A and Licensing transactions, especially with multinational partners. Research, responsibility, and care are the pillars that guide Neopharmed Gentili’s mission to improve the health and quality of life of patients, caregivers, and healthcare personnel. Neopharmed Gentili’s ambition is to help people live long and healthy lives, acting with ethical value and scientific precision, and offering solutions with high therapeutic value.
For further information:
Neopharmed Gentili S.p.A.
Investor Relations
investors@neogen.it
