December 15, 2016 / 8:29 AM / in a year

Spain's Grifols plans to refinance debt in Q1 2017 after Hologic buy

MADRID, Dec 15 (Reuters) - Spain’s Grifols, which on Wednesday said it would buy U.S. Hologic Inc’s assets in their blood screening joint venture, will refinance its net debt in the first quarter of next year, its Chief Financing Officer said on Thursday.

“Assuming the market is okay ... we’re convinced that we could go to the market and refinance our debt in the first quarter,” Grifol’s Chief Financing Officer Alfredo Arroyo told Reuters on Thursday.

The company, which develops plasma protein therapies, aims to return its debt/core profit ratio to 3 times within a couple of years compared to 4.3 times in pro-forma terms, including a $1.7 billion loan also announced on Wednesday. (Reporting by Emma Pinedo; Writing by Paul Day)

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