Sartorius refinances syndicated loan and increases financing flexibility
Göttingen, December 17, 2020
- Credit volume now amounts to 600 million euros
- International bank syndicate led by Commerzbank, BNP Paribas, and UniCredit
The life science group Sartorius refinanced its syndicated loan, increasing it to 600 million euros. The company signed a loan agreement with an international bank syndicate led by BNP Paribas, Commerzbank, and UniCredit. Sartorius has now adjusted its credit facility in place so far to accommodate its strong growth. As a result, the company has raised its credit line that will run until the end of 2021 by 200 million euros and extended the members of the bank syndicate by J.P. Morgan and UniCredit.
“The new loan agreement ensures our financing flexibility following the company’s three acquisitions in 2020, providing leeway for further strategic measures. We took out this loan under highly attractive terms in a market environment of tightening financial conditions. This reflects the confidence of banks in the financial strength and positive prospects of Sartorius,” said Rainer Lehmann, member of the Executive Board and Chief Financial Officer of Sartorius. The credit line is for a term of three years and can be extended twice for one year at a time.