Lonza Announces Refinancing Extension and Increase of Its Term and Revolving Bank Facilities
Basel, Switzerland, 9 September 2019- Lonza Group AG ("Lonza") today announced the refinancing and extension of its syndicated Term and Revolving Bank Facilities Agreement (the "Facilities"), which was effective 6 September 2019.
The Facilities were launched at a size equivalent to CHF 2.2 billion and closed substantially oversubscribed, reflecting strong support from Lonza's international group of relationship banks.
Lonza scaled back subscription levels and remained with the initial launch size; the Facilities include a revolving credit facility increased to CHF 1 billion, with the remainder in term loan facilities.
This launch follows the assignment of Lonza's strong investment grade rating by S&P, and the refinancing exercise included materially improved terms compared with the previous syndicated bank facilities. A total of 16 relationship banks committed to the Facilities. They included Bank of America Merrill Lynch, Credit Suisse and HSBC as global coordinators.
The Facilities have various maturity dates up to 2025 and are for general corporate purposes.
About Lonza
Lonza is an integrated solutions provider that creates value along the Healthcare Continuum. Through our Pharma Biotech & Nutrition segment and our Specialty Ingredients segment businesses, we harness science and technology to serve markets along this continuum. We focus on creating a healthy environment, promoting a healthier lifestyle and preventing illness through consumers' preventive healthcare, as well as improving patient healthcare by supporting our customers to deliver innovative medicines that help treat or even cure severe diseases.
Patients and consumers benefit from our ability to transfer our pharma know-how to the healthcare, hygiene and fast-moving consumer goods environment and to the preservation and protection of the world where we live.
Founded in 1897 in the Swiss Alps, Lonza today is a well-respected global company with more than 100 sites and offices and approximately 15,500 full-time employees worldwide at the end of 2018. The company generated sales of CHF 5.5 billion in 2018 with a CORE EBITDA of CHF 1.5 billion. Further information can be found at www.lonza.com.
Lonza Contact Details
Dirk Oehlers Investor Relations Lonza Group Ltd Tel +41 61 316 8540 Dirk.oehlers@lonza.com Dr. Kristin Koehler Lonza Group Ltd Tel +41 61 316 8782 kristin.koehler@lonza.com | |
Dr. Sanna Fowler Lonza Group Ltd Tel +41 61 316 8929 sanna.fowler@lonza.com |
Additional Information and Disclaimer
Lonza Group Ltd has its headquarters in Basel, Switzerland, and is listed on the SIX Swiss Exchange. It has a secondary listing on the Singapore Exchange Securities Trading Limited ("SGX-ST"). Lonza Group Ltd is not subject to the SGX-ST's continuing listing requirements but remains subject to Rules 217 and 751 of the SGX-ST Listing Manual.
Certain matters discussed in this news release may constitute forward-looking statements. These statements are based on current expectations and estimates of Lonza Group Ltd, although Lonza Group Ltd can give no assurance that these expectations and estimates will be achieved. Investors are cautioned that all forward-looking statements involve risks and uncertainty and are qualified in their entirety. The actual results may differ materially in the future from the forward-looking statements included in this news release due to various factors. Furthermore, except as otherwise required by law, Lonza Group Ltd disclaims any intention or obligation to update the statements contained in this news release.