Milbank Advises in Connection with Grifols’ €1.3B Private Placement of Senior Secured Notes

Milbank LLP advised the placement agents and note purchasers in connection with Grifols’ privately placed issuance of €1.3 billion principal amount of senior secured notes due 2030.

The proceeds from the offering, together with cash on balance sheet, were used to (i) redeem the outstanding 1.625% senior secured notes due 2025 issued in November 2019 and (ii) repay certain amounts outstanding under Grifols’ revolving credit facility.

As a leading global producer of plasma medicines, Grifols has a presence in more than 110 countries and is the world leader in plasma collection, with more than 390 plasma donation centers across North America, Europe, Africa, the Middle East and China. The company is headquartered in Barcelona, Spain, and employs more than 23,000 people worldwide.

The Milbank team representing the placement agents was led by Corporate Finance and Securities partner Trevor Truman, special counsel Varun Natteri Mangadu, associate Andrew Wells and legal assistant Olga Maria Efstathiou. The Milbank team representing the note purchasers was led by Corporate Finance and Securities partner Ana Grbec and associates Cheyne Cudby, Manel Mostefaoui, Chara Makrygianni.

Milbank also advised the financing sources in connection with the amendment, partial extension and upsizing of Grifols’ existing revolving credit facility through May 2027.