UCB Credit Facility Renewed with Improved Terms
Brussels, Belgium – 9 January 2014 19h30 CET: UCB announced today that an amendment and restatement of its EUR 1.0 billion revolving credit facility has been successfully closed with significant oversubscription.
Following an improvement in general loan market conditions towards the end of last year, UCB entered into negotiations with its core-relationship banks. The renewed agreement includes an extension of the maturity from 2016 to 2019, including the option to request further extensions of the maturity date by two additional years, and reduced margins, reflecting current market conditions.
Detlef Thielgen, Chief Financial Officer of UCB, comments, "We are pleased with the improved terms for our existing facility. All existing Mandated Lead Arranger banks have signed up to this amendment which underscores the strong partnership between our core relationship banks and UCB."
UCB appointed BNP Paribas Fortis Bank SA/NV, Commerzbank AG, ING Bank NV and Mizuho Bank Ltd as Joint Coordinating Bookrunners for the restated facility.
For further information
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UCB, Brussels, Belgium (www.ucb.com) is a global biopharmaceutical company focused on the discovery and development of innovative medicines and solutions to transform the lives of people living with severe diseases of the immune system or of the central nervous system. With 9 000 people in approximately 40 countries, the company generated revenue of EUR 3.4 billion in 2012. UCB is listed on Euronext Brussels (symbol: UCB).
Forward looking statements
This press release contains forward-looking statements based on current plans, estimates and beliefs of management. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including estimates of revenues, operating margins, capital expenditures, cash, other financial information, expected legal, political, regulatory or clinical results and other such estimates and results. By their nature, such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions which could cause actual results to differ materially from those that may be implied by such forward-looking statements contained in this press release. Important factors that could result in such differences include: changes in general economic, business and competitive conditions, the inability to obtain necessary regulatory approvals or to obtain them on acceptable terms, costs associated with research and development, changes in the prospects for products in the pipeline or under development by UCB, effects of future judicial decisions or governmental investigations, product liability claims, challenges to patent protection for products or product candidates, changes in laws or regulations, exchange rate fluctuations, changes or uncertainties in tax laws or the administration of such laws and hiring and retention of its employees. UCB is providing this information as of the date of this press release and expressly disclaims any duty to update any information contained in this press release, either to confirm the actual results or to report a change in its expectations.
There is no guarantee that new product candidates in the pipeline will progress to product approval or that new indications for existing products will be developed and approved. Products or potential products which are the subject of partnerships, joint ventures or licensing collaborations may be subject to differences between the partners. Also, UCB or others could discover safety, side effects or manufacturing problems with its products after they are marketed.
Moreover, sales may be impacted by international and domestic trends toward managed care and health care cost containment and the reimbursement policies imposed by third-party payers as well as legislation affecting biopharmaceutical pricing and reimbursement.
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