French CDMO EuroAPI announces today that it has completed and secured the financing of its ongoing Focus-27 strategic plan. The agreements comprise:

* An agreement with EuroAPI’s banking syndicate on a new secured €451 million revolving credit facility, refinancing the existing revolving facility to mature in February 2029

* An investment by Sanofi of €200 million in a perpetual deeply subordinated hybrid bond, which EuroAPI said that will give it “additional financial flexibility” to deliver Focus-27

French-based CDMO EuroAPI has reached an agreement with Sanofi to finance the implementation of its Focus-27 restructuring programme through a €200 million perpetual subordinated hybrid bond. Sanofi, from which EuroAPI was originally spun out, remains its main shareholder and customer. It also agreed in principle to reserve minimum available capacities for selected products manufactured by EuroAPI through a €54 million payment.