Commentary & Deal Flow

PHOENIX PIB Dutch Finance BV has decided not to pursue its proposed EUR transaction at this point in time due to market conditions. The Company would like to thank investors for their interest and looks forward to re-engaging with investors next year.

Last week PHOENIX PIB Dutch Finance BV guaranteed by PHOENIX Pharmahandel GmbH & Co KG (PHARGR), rated BB+ (credit watch negative) by S&P,  mandated BNP/CA/DB/Helaba/UniCredit as jt books to organize a series of one-on-one fixed income investor calls. A euro-denominated, Reg S, senior unsecured, EUR 300mn exp. offering with a tenor of 5 years was expected to follow, subject to market conditions. List Lux. UOP: GCP, including the repayment of existing financial indebtedness and/or financing and/or refinancing the McKesson Europe acquisition. Biz: a leading integrated healthcare provider in Europe operating in Pharmaceutical Wholesale, Pharmaceutical Retail and Pharma Services. HQ: Mannheim, Germany.