ZUG, Switzerland--BUSINESS WIRE--
Galderma Group AG (SWX:GALD):
NOT FOR DISTRIBUTION IN THE UNITED STATES OR IN ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION WOULD BE RESTRICTED BY APPLICABLE LAW OR REGULATION
Galderma successfully placed an inaugural bond with a total amount of CHF 500 million through a dual tranche offering:
- CHF 250 million bond, with a 4-year maturity and a 1.6% fixed-rate annual coupon
- CHF 250 million bond, with a 8-year maturity and a 1.9% fixed-rate annual coupon
The payment date of the bonds is September 27, 2024. The bonds will be listed on the SIX Swiss Exchange and are expected to be included in the domestic segment of the Swiss Bond Index (SBI). The bonds were placed under the lead management of UBS and Zürcher Kantonalbank.
To support the issuance of the bond, Galderma obtained two investment grade ratings from UBS and Zürcher Kantonalbank (BBB- "Improving" and BBB- "Stable" respectively).
The net proceeds of the transaction will be used for the partial refinancing of its existing Bank Term Loan issued at Initial Public Offering (IPO) and general purposes. This successful issuance is leverage-neutral and doesn't affect Galderma's guidance for full-year 2024 on net sales, Core EBITDA margin, leverage and interest cash expense for the second half of 2024, as last communicated on July 25, 2024.
About Galderma
Galderma (SIX: GALD) is the pure-play dermatology category leader, present in approximately 90 countries. We deliver an innovative, science-based portfolio of premium flagship brands and services that span the full spectrum of the fast-growing dermatology market through Injectable Aesthetics, Dermatological Skincare and Therapeutic Dermatology. Since our foundation in 1981, we have dedicated our focus and passion to the human body's largest organ - the skin - meeting individual consumer and patient needs with superior outcomes in partnership with healthcare professionals. Because we understand that the skin we are in shapes our lives, we are advancing dermatology for every skin story.
