Bulletin: Dutch Pharma Company Centrient €180 Million Debt Add-On Will Lead To Higher Leverage - S&P Global Ratings’ Credit Research

Bulletin: Dutch Pharma Company Centrient €180 Million Debt Add-On Will Lead To Higher Leverage

Bulletin: Dutch Pharma Company Centrient €180 Million Debt Add-On Will Lead To Higher Leverage - S&P Global Ratings’ Credit Research
Bulletin: Dutch Pharma Company Centrient €180 Million Debt Add-On Will Lead To Higher Leverage
Published Feb 22, 2021
2 pages (1254 words) — Published Feb 22, 2021
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Abstract:

MADRID (S&P Global Ratings) Feb. 22, 2021--S&P Global Ratings today said that Centrient's proposed €180 million senior secured add-on to its existing €335 million senior secured Term Loan B facility will lead to higher leverage. This will reduce rating headroom, but Centrient's S&P Global Ratings-adjusted debt to EBITDA will remain commensurate with the 'B-' rating and stable outlook. As part of the transaction, the group will also increase its existing revolving credit facility by €10 million. We understand that Centrient will use the new debt to acquire an India-based contract manufacturing organization, Astral SteriTech, which specializes in sterile antibiotic powder injectable finished dosage forms (FDFs). We expect this transaction will close in the second half of the year. Despite a

  
Brief Excerpt:

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Report Type:

Bulletin

Issuer
Centrient Holding B.V.
GICS
Pharmaceuticals (35202010)
Sector
Global Issuers
Country
Netherlands
Region
Europe, Middle East, Africa
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Dutch Pharma Company Centrient €180 Million Debt Add-On Will Lead To Higher Leverage" Feb 22, 2021. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Dutch-Pharma-Company-Centrient-180-Million-Debt-Add-On-Will-Lead-To-Higher-Leverage-2598575>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Dutch Pharma Company Centrient €180 Million Debt Add-On Will Lead To Higher Leverage Feb 22, 2021. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Dutch-Pharma-Company-Centrient-180-Million-Debt-Add-On-Will-Lead-To-Higher-Leverage-2598575>
  
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