Deutsche Bank and UniCredit Bank acted as coordinators on a $400 million syndicated revolving credit facility for QIAGEN, with Deutsche Bank acting as the documentation and facility agent and UniCredit Bank acting as the sustainability coordinator.
QIAGEN is a provider of sample and assay technologies for molecular diagnostics, applied testing, academic and pharmaceutical research
The syndicated credit facility is provided by a group of 11 core relationship banks. The facility will run for three years and each lender will be able to extend this period by one year two times. It replaces a facility of the same amount that runs until December 2021 and will be used for general corporate purposes, including potential acquisitions. One factor determining the new facility’s credit margin will be QIAGEN’s sustainability rating as assigned by ISS-ESG, a sustainability-ratings agency, which in July 2020 awarded QIAGEN its top-flight “Prime” rating.
“Our mission to make improvements in life possible includes sustainable business practices,” Roland Sackers, CFO of QIAGEN, said. “By linking this new credit facility to our sustainability rating, we are creating a new incentive to further foster and embed sustainability in all business areas. An improved ESG rating triggers interest-margin gains and QIAGEN will donate any money saved this way to sustainable causes.”
