Grifols : Quality comes at a (high) price. We are buyers of the new 2025 issue at 1.5% or higher and of the new 2027 at 2% or higher
Grifols has launched the refinancing of its secured bank facilities with a new debt offering of $ 6.5bn (€ 5.6bn). The new facilities include for the first time € 1.14bn of senior secured bonds due 2025 and 2027. The existing € 1bn senior unsecured bond due 2025 is unaffected. - We continue to favour the group's business model as heavy investments efforts are currently dilutive on margins and cash flow but strengthen the business profile and contribute to margin stability in the l...Grifols is engaged in developing, manufacturing and distributing a range of plasma derivative products. Plasma derivatives are proteins found in human plasma, which once isolated and purified, have therapeutic value. These protein-based therapies extend the lives of individuals who suffer from chronic and acute conditions. Co. also specializes in providing infusion solutions, nutrition products, medical devices, diagnostic instrumentation and reagents for use in hospitals and clinics. Co.'s products and services are used by healthcare providers in approximately 100 countries. Co.'s business is organized into three divisions: Bioscience, Diagnostic, Hospital and Raw Materials.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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