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Amplitude Surgical carries out 65 million-euro bond financing placement
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Amplitude Surgical, a French surgical technology company focused on lower limb orthopaedics, announced the completion of a new 65 million-euro bond issue. According to a company press release, this new bond debt has helped the company with early repayment of 35 million euros of previous debt and provided it with an additional 30 million euros. The additional euros will give the group needed financial resources to pursue its international development.
Philippe Garcia, chief financial officer of Amplitude Surgical, said, “This bond issuance represents a key milestone to strengthen our financial structure. With a more favorable interest rate and greater financial flexibility, this additional 30 million euros of funding will enable us to finance our expansion, notably in the United States, and to move into new territories.”
This new bond debt carries a 5% annual coupon and has a maturity of 6 years. The terms of the existing residual debt were significantly improved, with a 100-bp reduction in the margin and a 2-year extension of the maturity date to September 2023, according to the press release.
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