Deutsche Bank Ditches Debt Sale for German Opioid-Maker
- Gruenenthal agrees extension of EU535m loan with bank lenders
- Lenders wary of risks linked to potentially addictive drugs
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Deutsche Bank AG has scrapped its plan to sell hundreds of millions of euros of debt for German pharmaceutical company Gruenenthal GmbH due to a lack of interest from investors, according to people familiar with the matter.
The loan was intended to replace some of the company’s existing financing. The family-owned business, which makes painkillers including opioid drugs such as Tramadol, had unsecured term loans and Schuldschein worth 935 million euros ($1.13 billion) due to mature this year, Bloomberg data show.