Sandoz Issues EUR 500 Million Bond

Sandoz Group AG has announced the issuance of a EUR 500 million bond with a 12-year maturity and a 4.835% coupon. The proceeds will support general corporate purposes, including the refinancing of existing debt. This move reflects the financial robustness of Sandoz, a leader in affordable medicines.

Sandoz CFO Remco Steenbergen highlights the extension of their debt maturity profile and the achievement of an attractive effective interest cost. The company expects to maintain an average annual interest rate below 4% on gross debt, reinforcing its stable capital structure through 2038.

The company holds a positive investment grade credit rating, with Baa2 from Moody's and BBB from S&P. The transaction involved a syndicate of banks like Bank of America and Citi, with legal advisors Advestra and Linklaters.