UCB signs Eu1.5bn after pulling bridge bond

Belgian pharmaceutical group UCB signed a Eu1.5bn loan this week in its latest move to refinance acquisition debt. However, a planned Eu500m tranche was missing after the company instead found demand in the bond market earlier in December.

  • 15 Dec 2009
UCB originally planned to raise a Eu500m 364 day term loan alongside a Eu1.5bn three year plus one revolver. But it cancelled the former in favour of a Eu500m bond targeted at institutional investors. The seven year note priced on December 3 with a spread of 275bp over ...

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