German Drugmaker Stada Set to Refinance Debt After IPO Delay
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German drugmaker Stada Arzneimittel AG is looking to refinance some of its junk debt, after pushing back a planned initial public offering intended to cut its liabilities.
Stada launched the sale of notes worth €965 million on Monday, with the proceeds earmarked for refinancing the company's 7.5% senior secured bonds due 2026. The firm may also look to refinance some of its loans shortly, according to people familiar with the matter who asked not be identified because the talks are private.
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