LEO Pharma

LEO Pharma successfully refinances loan facility

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Ballerup, November 15, 2021 – Today, LEO Pharma announced that it has successfully refinanced the company’s syndicated loan facility of total DKK 11.2 billion.

The facility agreement expands the timeline for LEO Pharma’s total syndicated loan facility to 2026 and allows access to an additional DKK 1.5 billion and a total of up to DKK 11.2 billion composed of a combination of loans and revolving credit facility. This supports the company’s ambitious growth strategy towards 2030, potentially including introducing the company on the stock exchange.

- We are very satisfied with the new facility that allows access to flexible funding running through 2026 allowing us to make the required investments to deliver on our growth strategy towards 2030, said Anders Kronborg, CFO and Executive Vice President in LEO Pharma.

The company’s 2030 strategy entails launching several new innovative treatments that are either first or best in class within medical dermatology, which is expected to be one of the fastest growing therapeutic areas towards 2030. As a result, the company is expected to deliver consecutive double-digit growth and to reach an attractive EBITDA margin by 2025 preparing the company for a potential IPO.

The refinancing facilitated with a consortium of Nordic banks marks LEO Pharma’s inaugural sustainability-linked credit facility and has an interest mechanism that links borrowing costs to LEO Pharma’s progress on defined sustainability targets. This entails growing the company in medical dermatology with integrity and respect for employees, partners and society, and that the targets in the loan are linked to LEO Pharma’s defined targets on carbon reduction, and on gender diversity in management.

Nordea has acted as sole Coordinating Bookrunner, Mandated Lead Arranger, Documentation Agent and Sustainability Coordinator of the facility.

Contacts

Henrik Heskjaer
Global External Communications
+45 3140 6180

About LEO Pharma

LEO Pharma
LEO Pharma
Industriparken 55
2750 Ballerup

4494 5888http://www.leo-pharma.com/

About LEO Pharma

LEO Pharma helps people achieve healthy skin. The company is a leader in medical dermatology with a robust R&D pipeline, a wide range of therapies and a pioneering spirit. Founded in 1908 and majority owned by the LEO Foundation, LEO Pharma has devoted decades of research and development to advance the science of dermatology, setting new standards of care for people with skin conditions. LEO Pharma is headquartered in Denmark with a global team of 6,000 people, serving 93 million patients in 130 countries. In 2020, the company generated net sales of DKK 10,133 million. For more information, please visit www.LEO-Pharma.com.

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