DUBLIN (S&P Global Ratings) Feb. 18, 2021--S&P Global Ratings said today that although the term loan add-on issued by dialysis provider Diaverum Holding Sarl (B-/Stable/--) was slightly higher than originally expected, the transaction remains leverage neutral. Diaverum tapped its term loan by €155 million, rather than the planned €130 million, but this amount still falls within our rating expectations. The cash proceeds will be used to pay down the €130 million drawn down under Diaverum's original €175 million revolving credit facility (RCF). The company will retain the remaining €23 million (net of €2 million fees) on the balance sheet for general corporate purposes. These include funding capital expenditure for the acquisitions planned in 2021, which will lower the drawdown under
