Sulzbach/Pratteln, May 8, 2023
- EUR 670 million in bonds successfully placed
- Syndicated revolving credit line of EUR110 million concluded
- Terms until 2027/2028 provide planning certainty
- Focus on further growth as a leading CDMO
The CABB Group has successfully concluded its refinancing round. New bonds with a total volume of EUR 670 million and terms until 2028 were successfully placed with institutional investors. The issue comprises two tranches: EUR 420 million with a fixed interest rate and EUR 250 million with a variable interest rate. The proceeds will be used to fully settle previous liabilities.
The CABB Group has also signed a revolving credit line of EUR 110 million with a broad consortium of international banks, with a term until the end of 2027. This will further boost the Group’s liquidity reserves and showcases the close and longstanding relationship with CABB’s group of core banks.
“The successful refinancing is a vote of confidence in our work,” says Markus Schürholz, CFO of the CABB Group. “It gives us the planning certainty that we need to keep on driving the company’s development forwards over the next few years.”
Valerie Diele-Braun, CEO of the CABB Group, adds: “Our goal is to continue expanding our leading role as a contract development and manufacturing organization (CDMO). The focus is on manufacturing and developing customized active substances in the field of crop sciences and producing highly specialized ingredients for customers in the life sciences and performance materials industries. Our global production facilities, our excellent, longstanding customer relationships and our outstanding expertise in the field of process development will lay the groundwork for further profitable growth.”
Download the full press release here (PDF):
– Press Release: CABB Group successfully concludes refinancing
