Highs and lows for Fresenius Medical Care
Dialysis product and service provider Fresenius Medical Care has placed €500m notes. Yesterday, the medtech giant had to come to terms with a sharp drop in share price.
The notes, which have an with an aggregate principal amount of €500m, have a maturity of 7 years and an annual coupon of 1.5%. The issue price is 99.704% and the resulting yield amounts to 1.545%. FMC said in a statement that the transaction was very well received by investors and substantially oversubscribed. The proceeds will be used for general corporate purposes, including the refinancing of upcoming maturities. The notes the company placed today have a maturity of 7 years and an annual coupon of 1.5%. The issue price is 99.704% and the resulting yield amounts to 1.545%.
FMC has applied to the Luxembourg Stock Exchange to admit the notes to trading on its regulated market.
On Wednesday, the Fresenius Medical Care share price took a sharp downward turn, going down to 82.76 from 85.60 a day earlier. With a loss of 3.4%, the Bavarian dialysis specialist was the biggest loser on the German exchange DAX. The reason: an analysis by Credit Suisse predicting difficulties ahead for the company due to rising wage pressure in the US.
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