May 7, 2020

Grifols reinforces its liquidity position to EUR 1,700 million

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  • The company upsizes its multicurrency revolving credit facility from USD 500 million to USD 1,000 million in order to further reinforce its already-solid liquidity position, which totaled EUR 1,200 million on March 31, 2020
  • Amid the current COVID-19 context, Grifols once again adopts a proactive approach by taking the necessary measures to bolster its robust liquidity position

Barcelona, May 7, 2020.- Grifols (MCE: GRF, MCE: GRF.P, NASDAQ: GRFS) today signed an upsize of its multicurrency revolving credit facility with the banks that participated in the refinancing process finalized in November 2019. Following this transaction, the company’s liquidity position increases from USD 500 million to USD 1,000 million with maturity in November 2025.

The expansion of the revolving credit line – which continues to be undrawn and will not increase the company’s indebtedness – will enable Grifols to reinforce its liquidity position, which currently stands at EUR 1,700 million compared to the EUR 1,200 million reported in the first quarter of 2020.
In light of the COVID-19 pandemic, Grifols is once again adopting a proactive approach by taking all necessary measures to further bolster its already-solid liquidity position.

The terms and conditions of this new transaction are in line with those signed in November 2019.

In November 2019, Grifols concluded its debt refinancing process, enabling it to optimize its financial structure and extend average maturities to more than seven years. The process also provided greater flexibility in covenant conditions (cov-lite). The company does not face significant maturity repayments or down payments until 2025.

As a company, Grifols is highly equipped to address the demands of the current situation and remains firmly committed to its long-term growth strategy.