Dechra Pharmaceuticals PLC — Capital/Financing Update 2019

Dec 18, 2019

National Storage Mechanism | Additional information

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RNS Number : 3850X

Dechra Pharmaceuticals PLC

18 December 2019

18 December 2019

Dechra® Pharmaceuticals PLC

(Dechra, Company or the Group)

Refinancing of the Group Debt Facilities

Private Placement: Euro and US Dollar Senior Unsecured Notes

Dechra is pleased to announce the signing of a private placement of EUR50 million seven year and USD100 million ten year new senior unsecured notes. The issue has similar covenants to the Group's existing facilities. The weighted average coupon of the fixed rate notes will equate to 2.8%.

The issue was priced on 19 November 2019 and the agreement was signed on 18 December 2019.  The notes will be issued on 22 January 2020, subject to satisfaction of customary closing conditions.

The private placement is being undertaken now to take advantage of attractive market conditions and has also achieved the Group's aims of diversifying the sources of debt financing and extending the debt maturity profile. All proceeds from the issuance will be used to repay the existing term loan facility.

Dechra will provide its trading update for the reporting period from 1 July to 31 December 2019 on 16 January 2020.

Enquiries to:
Dechra Pharmaceuticals PLC
Ian Page, Chief Executive Officer
Paul Sandland, Chief Financial Officer
Office:  +44 (0) 1606 814 730
e-mail: corporate.enquiries@dechra.com
TooleyStreet Communications Ltd
Fiona Tooley, Director Mobile: +44 (0) 7785 703 523 e-mail: fiona@tooleystreet.com

About Dechra

Dechra is a global veterinary pharmaceuticals and relates products business.  Our expertise is in the development, manufacture and sales and marketing of high quality products exclusively for veterinarians worldwide. Dechra's business is unique as the majority of its products are used to treat medical conditions for which there is no other effective solution or have a clinical or dosing advantage over competitor products. 

For more information please visit: www.dechra.com

Stock Code: Full Listing (Pharmaceuticals): DPH

Trademarks

Dechra and the Dechra "D" logo are registered trademarks of Dechra Pharmaceuticals PLC.

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