ConvaTec (ConvaTec Inc. and ConvaTec Healthcare E S.A.) Prices and Allocates $1,850 Million Equivalent Senior Secured Credit Facilities Due 2020

LUXEMBOURG (June 9, 2015) – ConvaTec (ConvaTec Inc. and ConvaTec HealthcareE S.A.) priced and allocated its $1.85bn equivalent senior secured refinancing transaction.  

Alongside a $200mm revolving credit facility (L+375bps), the €755mm EUR tranche priced at E+325bps / 1% floor at par whilst the $800mm USD tranche priced at E+325bps / 1% floor at 99.75. Proceeds from the term loans will be used to refinance existing senior secured indebtedness in the capital structure and to pay transaction-related fees and expenses. The company expects to close the refinancing on June 15, 2015.

About ConvaTec

ConvaTec is a global medical products and technologies company, with leading market positions in wound therapeutics, ostomy care, continence and critical care, and infusion devices. Our products provide a range of clinical and economic benefits, including infection prevention, protection of at-risk skin, improved patient outcomes and reduced total cost of care. ConvaTec has 9,000 employees, with 11 manufacturing sites in 8 countries, and we do business in more than 100 countries. We are owned by Nordic Capital and Avista Capital Partners. More information is available at www.convatec.com

This press release may contain “forward-looking statements” within the meaning of securities laws. Any forward-looking statements involve risks, uncertainties and assumptions. Although we believe that the assumptions and analysis underlying these statements are reasonable as of the date hereof, investors are cautioned not to place undue reliance on these statements. Forward-looking statements include information concerning our liquidity and our possible future results of operations, including descriptions of our business strategies and the operational cost improvements and other benefits we expect to achieve as a result of the proposed refinancing discussed in this press release. These statements often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “target,” “project,” “forecast,” “seek,” “will,” “may,” “should,” “could,” “would,” or similar expressions. These statements are based on certain assumptions that we have made in light of our experience in the industry and our perceptions of historical trends, current conditions, expected future developments and other factors we believe appropriate under the circumstances as of the date hereof. We do not have any obligation to and do not intend to update any forward-looking statements included herein. You should understand that these statements are not guarantees of future performance or results. Actual results could differ materially from those described in any forward-looking statements contained herein as a result of a variety of factors, including known and unknown risks and uncertainties, many of which are beyond our control.

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