The Digester
finance

Grifols secures €3.0bn senior loan to refinance 2027 debt

Grifols increased a planned €2.0bn placement to a €3.0bn seven year senior secured loan, boosting the euro tranche to €1.25bn and using proceeds to refinance a €2.0bn facility and €740m of bonds maturing in 2027.

Apr 1st 2026 · Spain

Insights

  • Grifols signed a €3.0bn guaranteed senior secured loan with a seven year maturity.
  • The deal was upsized from an initial €2.0bn placement after strong institutional demand, with the euro tranche increased to €1.25bn.
  • The dollar tranche carries a spread of 250 basis points over US reference rates and the euro tranche is priced at Euribor plus 300 basis points.
  • Proceeds will refinance the group's €2.0bn existing long term loan and fully repay €740m of senior secured bonds maturing in 2027.
  • A new revolving credit line equivalent to €1.75bn will replace the prior €938m facility.
  • Joint coordinators included Bank of America, JPMorgan, Santander and other global banks.
  • CFO Rahul Srinivasan said investor demand validated Grifols' fundamentals and will help reduce cash interest costs.

Sources