Galderma Successfully Placed an Inaugural EUR 500 Million Single Tranche Eurobond and New Dual Tranche CHF 435 Million CHF Bonds

(BUSINESS WIRE)--Galderma Group AG (SWX:GALD):

NOT FOR DISTRIBUTION IN THE UNITED STATES OR IN ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION WOULD BE RESTRICTED BY APPLICABLE LAW OR REGULATION.

Galderma (SIX: GALD) has made significant progress on its refinancing strategy to spread out its maturity profile, diversify funding sources and reduce its interest costs, by successfully issuing the following bonds:

• EUR 500 million bond, with a 5-year maturity and a 3.5% fixed-rate annual coupon
• CHF 190 million bond, with a 4-year maturity and a 1.4025% fixed-rate annual coupon
• CHF 245 million bond, with a 8-year maturity and a 1.8098% fixed-rate annual coupon

The payment dates are March 20, 2025, for the Eurobond and the CHF bonds. The bonds will be listed on the SIX Swiss Exchange. The EUR transaction was led by BNP Paribas, J.P. Morgan, Mizuho, and Santander as active bookrunners, while the CHF transaction was led by UBS and BNP Paribas.

Galderma is rated BBB (stable outlook) by Fitch and Fitch is expected to rate the bonds BBB.

The net proceeds of the transactions will be used for the partial refinancing of Galderma’s existing Bank Term Loan issued at its initial public offering (IPO) as well as for general corporate purposes. These successful issuances are leverage-neutral and do not materially affect Galderma’s guidance for the full year 2025 on net financial expenses, last communicated on March 6, 2025, as part of the additional modelling metrics provided.

About Galderma

Galderma (SIX: GALD) is the pure-play dermatology category leader, present in approximately 90 countries. We deliver an innovative, science-based portfolio of premium flagship brands and services that span the full spectrum of the fast-growing dermatology market through Injectable Aesthetics, Dermatological Skincare and Therapeutic Dermatology. Since our foundation in 1981, we have dedicated our focus and passion to the human body’s largest organ – the skin – meeting individual consumer and patient needs with superior outcomes in partnership with healthcare professionals. Because we understand that the skin we are in shapes our lives, we are advancing dermatology for every skin story. For more information: www.galderma.com.

Forward-looking statements

Certain statements in this announcement are forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "plans", "targets", "aims", " believes", "expects", "anticipates", "intends", "estimates", "will", "may", "continues", "should" and similar expressions. These forward-looking statements reflect, at the time, Galderma's beliefs, intentions and current targets/ aims concerning, among other things, Galderma's results of operations, financial condition, industry, liquidity, prospects, growth and strategies and are subject to change. The estimated financial information is based on management's current expectations and is subject to change. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. Actual results may differ from those set forth in the forward-looking statements as a result of various factors (including, but not limited to, future global economic conditions, changed market conditions, intense competition in the markets in which Galderma operates, costs of compliance with applicable laws, regulations and standards, diverse political, legal, economic and other conditions affecting Galderma’s markets, and other factors beyond the control of Galderma). Neither Galderma nor any of their respective shareholders (as applicable), directors, officers, employees, advisors, or any other person is under any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak of the date of this announcement. Statements contained in this announcement regarding past trends or events should not be taken as a representation that such trends or events will continue in the future. Some of the information presented herein is based on statements by third parties, and no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, reasonableness, accuracy, completeness or correctness of this information or any other information or opinions contained herein, for any purpose whatsoever. Except as required by applicable law, Galderma has no intention or obligation to update, keep updated or revise this announcement or any parts thereof.

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