The newly established financing framework includes term loan facilities and a $1.2 billion revolving credit facility, managed by a syndicate led by The Bank of Nova Scotia. RBC Capital Markets and TD Securities joined as joint lead arrangers and bookrunners to finalize the terms, which align with the company's status as a publicly traded entity. CFO Brian McClelland noted that the agreement reflects the strength of the company’s current balance sheet and cash flow profile. By securing these terms, Apotex aims to lower its overall cost of capital while supporting ongoing investments and the expansion of its global pharmaceutical portfolio. The company, which maintains a significant footprint across North America and India, intends to leverage this financial restructuring to drive shareholder value and operational execution in the coming years.
Apotex Secures Investment-Grade Rating and $1.2 Billion Credit Facility
Toronto-based pharmaceutical giant Apotex has finalized an amended credit agreement, marking its transition into an investment-grade issuer. The deal follows an inaugural BBB (low) rating from Morningstar DBRS, providing the company with reduced borrowing costs and increased operational flexibility as it pursues its long-term growth strategy.
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