Investing.com -- Fresenius SE (ETR:FREG), a German healthcare company, announced on Tuesday that it has raised approximately 1.1 billion euros ($1.15 billion) through the sale of a portion of its Fresenius Medical (TASE:BLWV) Care (NYSE:FMS) shares and the placement of bonds.
The company disclosed that it sold roughly 10.6 million shares, equating to about 3.6% of Fresenius Medical Care’s share capital, at a rate of 44.50 euros per share.
The sale was made at a discount of over 4% compared to the closing price of 46.4 euros on Friday, just before the announcement was made.
In addition to the share sale, Fresenius also placed 600 million euros worth of senior unsecured bonds that can be exchanged into shares maturing in 2028.
The exchange price for these bonds was fixed at 57.85 euros, showcasing a premium of 30% above the share offering.
The company indicated that it plans to use the funds raised from the sale and bond placement to strengthen its balance sheet and decrease its leverage.
Despite the share sale, Fresenius will continue to be the largest shareholder in Fresenius Medical Care, holding a stake of at least 25% plus one share.
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