Genmab A/S (GMAB) announced that the company and its wholly owned subsidiary Genmab Finance LLC have priced their offering of $1.5 billion of 6.250% senior secured notes due 2032 and $1.0 billion of 7.250% senior unsecured notes due 2033. The issue price of the Notes is 100.000%.
The offering is expected to close on December 3, 2025.
Genmab also announced that it has completed the syndication of the new $2.0 billion senior secured term loan "B" facility, which term loan "B" facility is in addition to the $1.0 billion senior secured term loan "A" facility and $500 million senior secured revolving credit facility that Genmab previously syndicated to certain lenders as part of the financing for the pending acquisition of Merus N.V.
Genmab said it intends to use the net proceeds from this offering of the Notes, together with borrowings under the New Credit Facilities and cash on hand, to fund the consideration payable in connection with the Acquisition of Merus and related fees and expenses in connection with the Acquisition, the borrowings under the New Credit Facilities and the issuance of the Notes.
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