Commentary & Deal Flow

Grifols SA (GRFSM) has mandated BofA to arrange a series of fixed income investor calls, starting tomorrow (09/21). An investor NetRoadshow presentation will be made available. BofA is coordinating investor call logistics. A EUR/USD-denominated sr unsecured debt instrument with a maturity of 7 years may or may not follow, subject to market conditions. Existing sr notes B2/B+. The net proceeds of such issuance would be expected to be used to finance the acquisition announced today of Biotest AG for about EUR1.6bn equity value (EUR43 per ordinary share and EUR37 per pfd share). Biz:  a global healthcare company and industry leader in the production of plasma-derived medicines and transfusion medicine. HQ: Barcelona, Spain.