Grifols Addresses Debt Concerns with Senior Secured Debt Issuance and Haier Strategic Partnership

Grifols has reassured the market about its large debt once again, stating that it is working on the issuance of senior secured debt to refinance debt maturing in 2025. The Catalan company faces nearly 2.8 billion euros in bonds and bank debt, with significant payments due in February and May next year. In addition to this, Grifols has reiterated its plan to sell 20% of its stake in SRAAS to the Haier Group for 1.8 billion dollars, with the operation expected to close before the end of June.

Grifols initially reported a net financial debt of 9,416 million euros at the end of 2023. However, a report from the National Securities Market Commission highlighted twenty areas for improvement, including debt accounting, which led to an increase in the reported debt to over 10,500 million euros. This, along with changes in how rents are accounted for, caused the leverage ratio to rise from 6.3 times to 8.4 times. Despite these concerns, Grifols’ shares rose more than 2% in the session, reaching over 9.6 euros, the highest in the last month. This indicates that investors may be reacting positively to the company’s plans to address its debt and strategic partnerships.