MedWatch

Novo Nordisk to issue Euro medium term notes worth up to EUR 5bn

On Friday, Denmark's largest pharmaceutical company announced the establishment of an EMTN program in which the company provides a framework for issuing unsecured notes worth billions of euros. The company states the proceeds will be put towards "general corporate purposes".

Photo: Stine Tidsvilde

The hunt for capital for general corporate purposes has led Novo Nordisk to establish a Euro Medium Term Note (EMTN) program through which it can issue unsecured notes up to an aggregated principal amount of EUR 5bn (USD 6.1m), according to a Friday press release from the firm.

"Novo Nordisk intends to initially issue two series of notes aggregating to a principal amount EUR 1.3bn. The expected net proceeds from the issuances will be used by Novo Nordisk for general corporate purposes, including refinancing of the bridge loan facility established in connection with Novo Nordisk's acquisition of Emisphere Technologies Inc. in 2020. The notes will be listed on the Euronext Dublin," reads the press statement.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from MedWatch

Rumored GN purchase unlikely but not impossible, say analysts

A low value assessment, a high structural value, and no dominant shareholders make GN Group a reasonable investment case for international private equity firms and industrial players. But just how likely is it? Analysts reveal their best bets for what a GN acquisition could look like.

New CFO wants to shake things up at WSA

A mere month into her new job, Marianne Wiinholt, WS Audiology’s fifth chief financial officer since the firm was established through a merger in 2019, is heralding great structural changes.

Further reading

Related articles

Latest news

See all jobs