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Newsroom Press Releases

UCB credit facility renewed with improved terms

  • Extension of the maturity from 2015 to 2016
  • Reduced fees and removal of all financial covenants
  • Significantly oversubscribed

Brussels, Belgium, 10th October 2011, 18.00 CET – regulated information - UCB announced today that the amendment and restatement of its EUR 1.0 billion revolving credit facility has been successfully closed with significant oversubscription.

UCB entered into negotiations with its core-relationship banks as a result of an improvement in general loan market conditions earlier this year. The amendment results in an extension of the maturity from 2015 to 2016, reduced margin and the removal of all financial covenants.

Detlef ThielgenDetlef Thielgen, Chief Financial Officer of UCB, comments, "We are very pleased to have successfully improved the main terms of our existing facility. The fact that all existing Mandated Lead Arranger banks, despite the recent financial market turmoil, have signed up to this amendment and achieving an oversubscription by more than 50%, underscores the confidence which our core relationship banks have in UCB."
UCB appointed BNP Paribas Fortis, Commerzbank AG and Mizuho Corporate Bank as Joint Co-Ordinator MLA (Mandated Lead Arranger) Bookrunners for the restated facility.


For further information
Antje Witte, Investor Relations, UCB
T +32.2.559.9414,
antje.witte@ucb.com

Michael Tuck-Sherman, Investor Relations, UCB
T +32.2.559.9712, Michael.tuck-sherman@ucb.com

About UCB
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 more than 8 500 people in about 40 countries, the company generated revenue of EUR 3.2 billion in 2010. UCB is listed on Euronext Brussels (symbol: UCB).

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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