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Home Industry News UCB signs 1.5bn euro revolving credit facility

UCB signs 1.5bn euro revolving credit facility

18th December 2009

UCB has signed a new 1.5 billion euro (1.3 billion pound) revolving credit facility, it has announced.

The global biopharmaceutical firm issued a statement explaining that the purpose of the resource is to refinance its four billion euro banking facility that was arranged in association with its acquisition of Schwarz Pharma in 2006.

Since the transaction took place, it has amortised to 3.3 billion euros and is set to mature in October 2011.

Detlef Thielgen, chief financial officer of UCB, said that the company is “very pleased” to have established the new facility, which has a three-year maturity and a one-year extension option.

He added: “The fact that all banks originally invited into this transaction have signed up to the agreement, underscores the confidence which the loan and debt capital markets have shown in UCB throughout this refinancing process.”

Last month, the company announced that Ismail Kola has been appointed as executive vice-president and president of UCB New Medicines.

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