Grünenthal announces pricing of 500 million-euro bond

German family-owned pain focused drugmaker Grünenthal has announced the pricing of 500 million-euro ($527.5 million) aggregate principal amount of 4.625% senior secured notes due 2031.

The notes, which will be issued at 100.0%, were offered outside the USA in reliance on Regulation S under the Securities Act of 1933, as amended (the Securities Act). In the USA, the notes were offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act.

The no00tes were rated ‘BB+’, ‘BB-‘ and ‘B1’ by the three major independent credit rating agencies Fitch Ratings, Standard & Poor's and Moody’s Investors Service respectively.