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  1. Gerresheimer Group
9 November 2015

Gerresheimer Concludes €425m Debt Issue

Gerresheimer AG has successfully wrapped up its refinancing with the launch of a debt issue (Schuldschein) for a total amount of €425m.

Co-ordinated by Commerzbank, DZ Bank and Landesbank Baden-Württemberg, the transaction with an initial issue amount of €250m was substantially oversubscribed. Consequently, the total amount was increased to €425m.

The debt issue includes multiple tranches with terms of five, seven and ten years. It features both fixed and variable interest rates.

Funds from the debt issue serve to pay back part of the €550m bridge loan taken out by Gerresheimer to finance the Centor acquisition mid-year.

After deducting proceeds from the debt issue, the outstanding amount of the bridge loan is to be met pro rata out of the company’s proceeds from the sale of its glass tubing business, which was closed on 2 November 2015 and generated a cash inflow of €196m.

Gerresheimer AG chief financial officer Rainer Beaujean said: "The substantial oversubscription, coupled with the strong interest in the longer dated tranches, demonstrates to us our investors’ confidence in the long-term business performance of our group.

"We are pleased that this has enabled us to complete both transactions, the Centor acquisition and the sale of the glass tubing business, as planned before the end of this financial year.

"It means the Centor bridge loan will be paid back in full as of 30 November 2015."

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