UCB announced an amendment of its €1.0 billion ($1.361 billion) revolving credit facility has been successfully closed with significant oversubscription.

BNP Paribas Fortis Bank SA/NV, Commerzbank AG, ING Bank NV and Mizuho Bank acted as joint coordinating bookrunners for the restated facility.

Following an improvement in general loan market conditions towards the end of last year, UCB entered into negotiations with its core-relationship banks. The renewed agreement includes an extension of the maturity from 2016 to 2019, including the option to request further extensions of the maturity date by two additional years, and reduced margins, reflecting current market conditions.

Detlef Thielgen, CFO of UCB, comments, “We are pleased with the improved terms for our existing facility. All existing mandated lead arranger banks have signed up to this amendment, which underscores the strong partnership between our core relationship banks and UCB.”

UCB is a global biopharmaceutical company focused on the discovery and development of medicines and solutions for severe diseases of the immune system or of the central nervous system.