RMB leads debt financing for Aspen

MEDIA RELEASE

8 NOVEMBER 2022

RMB takes the lead in facilitating refinance deal for Aspen Pharmacare

RMB recently led Aspen Holdings’ syndicated c.EUR1.3bn debt refinance, acting as joint-global coordinator, initial mandated lead arranger and bookrunner on the transaction. The bank also provided a significant funding commitment to anchor the syndication.

The deal provides Aspen with improved terms on their debt package and greater flexibility. This reflects their strong and significantly improved credit profile, following a period of consolidation and optimisation of Aspen’s product portfolio.  

Tsholanang Kgosimore, Transactor for Debt & Trade Solutions, at RMB says: “RMB is the primary banker to Aspen’s South African operations. This ongoing relationship gave us the deep understanding required to act as the joint-coordinator on this debt refinance. Our expertise and knowledge of Aspen’s unique needs allowed us to build a syndication strategy that ultimately achieved the best possible terms for Aspen, at a competitive price.”

The c.EUR1.26bn finance was split across EUR, ZAR and AUD. The deal was significantly oversubscribed, resulting in substantial scale back to lenders.

Kgosimore concludes: “This debt refinance, concluded in a period characterised by the on-going Russia/Ukraine conflict, global supply chain challenges and rising global inflation rates, is  testament to the team’s innovative thinking. We are proud to have been involved in this transaction and of the benefits it will bring our client.”

End

Contact:

Kate Kelly l RMB l kate.kelly@rmb.co.za