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FRANKFURT - German pharmaceutical company Cheplapharm Arzneimittel GmbH is preparing to issue €500 million in senior secured fixed rate notes due 2031, according to a pre-stabilization notice released Wednesday.
Deutsche Bank Aktiengesellschaft will serve as the stabilization manager for the offering, with the stabilization period expected to begin June 18 and end no later than July 28, 2025.
The notes will be guaranteed by CheplaFinance 2 GmbH with limited recourse and Cheplapharm Schweiz GmbH. The securities will carry ISIN codes XS3087220664 for RegS and XS3087221043 for 144A transactions.
Details regarding the issue price and spread over benchmark have not yet been determined, according to the notice.
As part of the stabilization process, Deutsche Bank may over-allot securities or conduct transactions to support the market price at levels higher than might otherwise prevail. The maximum size of the over-allotment facility is set at 5% of the aggregate nominal amount.
The securities have not been registered under the United States Securities Act of 1933 and will not be offered in the United States. The offering is directed at qualified investors in European Economic Area member states and at persons outside the United Kingdom or those in the UK with professional investment experience.
The information was disclosed in a regulatory announcement via the London Stock Exchange (LON:LSEG)’s news service.
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