Fresenius Medical Care Successfully Places US$650 Million and €300 Million 10-Year Senior Notes
January 27 2011 - 6:57AM
Business Wire
Fresenius Medical Care AG & Co. KGaA (“the company” or
“Fresenius Medical Care”), the world’s largest provider of dialysis
products and services, today announced the pricing of
US$-denominated and €-denominated senior unsecured notes (together
“the senior notes”) in the principal amounts of US$650 million and
€300 million, respectively, both due 2021. The principal amount of
the US$ senior notes was increased from the amount initially
offered of US$500 million.
The coupon for the US$ senior notes will be 5.75%. With a price
of 99.060% at issuance, the yield to maturity will be 5.875%. The
coupon for the € senior notes will be 5.25%. The € senior notes
were issued at par. Net proceeds amounting to approximately
US$1,033 million from the offering will be used to repay
indebtedness, for acquisitions including the company’s recently
announced acquisition of Euromedic’s dialysis service business and
for general corporate purposes to support the renal products and
services business.
Michael Brosnan, chief financial officer of the company,
commented, “We are pleased to have successfully completed these
offerings. This means a further improvement of our solid funding
structure. And it also enhances our flexibility for further
pursuing our strategy of sustainable growth.”
The € senior notes were offered by FMC Finance VII S.A., and the
US$ senior notes were offered by Fresenius Medical Care US Finance,
Inc., both wholly owned subsidiaries of the company. The senior
notes will be guaranteed on a senior basis jointly and severally by
the company, Fresenius Medical Care Holdings, Inc. and Fresenius
Medical Care Deutschland GmbH. The senior notes were not registered
under the Securities Act of 1933 as amended, but were offered to
“qualified institutional buyers” in the United States pursuant to
the exemption from registration provided by Rule 144A under the
Securities Act and in an “offshore transaction” pursuant to
Regulation S under the Securities Act. The senior notes may not be
offered or sold in the United States without registration or an
applicable exemption from the registration requirements.
About Fresenius Medical Care
Fresenius Medical Care is the world's largest integrated
provider of products and services for individuals undergoing
dialysis because of chronic kidney failure, a condition that
affects more than 1.89 million individuals worldwide. Through its
network of 2,716 dialysis clinics in North America, Europe, Latin
America, Asia-Pacific and Africa, Fresenius Medical Care provides
dialysis treatment to 210,191 patients around the globe. Fresenius
Medical Care also is the world's leading provider of dialysis
products such as hemodialysis machines, dialyzers and related
disposable products. Fresenius Medical Care is listed on the
Frankfurt Stock Exchange (FME, FME3) and the New York Stock
Exchange (FMS, FMS/P).
Disclaimer
This release contains forward-looking statements that are
subject to various risks and uncertainties. Actual results could
differ materially from those described in these forward-looking
statements due to certain factors, including changes in business,
economic and competitive conditions, regulatory reforms, foreign
exchange rate fluctuations, uncertainties in litigation or
investigative proceedings, and the availability of financing. These
and other risks and uncertainties are detailed in Fresenius Medical
Care AG & Co. KGaA's reports filed with the U.S. Securities and
Exchange Commission. Fresenius Medical Care AG & Co. KGaA does
not undertake any responsibility to update the forward-looking
statements in this release.
This release does not constitute or form part of, and should not
be construed as, an offer or invitation to subscribe for,
underwrite or otherwise acquire, any securities of FMC Finance VII
S.A., or Fresenius Medical Care US Finance, Inc. or Fresenius
Medical Care or any present or future member of its group nor
should it or any part of it form the basis of, or be relied on in
connection with, any contract to purchase or subscribe for any
securities of FMC Finance VII S.A. or Fresenius Medical Care US
Finance, Inc. or Fresenius Medical Care or any member of its group.
In particular, this release is not an offer of securities in the
United States of America (including its territories and
possessions), and securities of FMC Finance VII S.A. and Fresenius
Medical Care US Finance, Inc. and Fresenius Medical Care may not be
offered or sold in the United States of America absent registration
under the Securities Act of 1933, as amended, (which FMC Finance
VII S.A. and Fresenius Medical Care US Finance, Inc. and Fresenius
Medical Care do not intend to effect) or pursuant to an applicable
exemption from registration.
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