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Grifols Reaffirms ShanghaiRAAS Deal With Haier Group

HEALTH CARE SECTOR

Grifols (GRF SM) reaffirmed key deal yesterday, to sell 20% of ShanghaiRAAS to Haier Group, which is set to solve 2025 refi cliff issue.


  1. Reuters is reporting an emailed stmt from Grifols comms team yesterday (Sun 14th) indicating Haier Group's intention to close the above deal, worth as much as USD1.8bn for GRF.
  2. GRF does have a key debt falling due in 2025 (AN216266 Corp) whose OAS has widened over 200bp since the publication of the Gotham report last week. This morning, it's indicating as much as 97bp tighter (and the equity is indicating higher). Closure of this deal is seen as key to the refi cliff due in May-25.

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