1. Genmab closes $2.5 billion offering of secured and unsecured notes. 2. Proceeds will fund the acquisition of Merus N.V. and related expenses. 3. The company restricts incurring additional debt and asset dispositions post-offering. 4. Notes were sold to qualified buyers; not registered under U.S. laws. 5. Acquisition might improve Genmab’s market position, influencing stock performance.
FAQ
Why Bullish?
The successful funding for an acquisition reflects financial stability, similar to prior mergers enhancing stock growth.
How important is it?
The funding for an acquisition is crucial in evaluating GMAB’s growth trajectory and financial robustness.
Why Short Term?
The acquisition of Merus could quickly affect GMAB’s market performance favorably if successful.
Genmab Completes $2.5 Billion Offering of Senior Secured and Unsecured Notes
COPENHAGEN, Denmark; December 3, 2025 – Genmab A/S (Nasdaq: GMAB) has officially closed its previously announced offering, raising a total of $2.5 billion through senior secured and unsecured notes.
Details of the Offering
Genmab A/S and its wholly owned subsidiary, Genmab Finance LLC, successfully completed an offering comprising:
- $1.5 billion in 6.250% senior secured notes due 2032 (the “Secured Notes”)
- $1.0 billion in 7.250% senior unsecured notes due 2033 (the “Unsecured Notes”)
The net proceeds from this offering will be utilized alongside borrowings from new credit facilities to finance the upcoming acquisition of Merus N.V. and cover associated fees.
Strategic Use of Proceeds
The raised funds will be allocated as follows:
- $2.0 billion from a senior secured term loan “B” facility
- $1.0 billion from a senior secured term loan “A” facility
- $500 million from a senior secured revolving credit facility
Combined with cash on hand, these funds will facilitate the Acquisition of Merus N.V. and related expenses.
Security and Guarantees
Before the closing of the Acquisition, the Secured Notes will be secured solely by segregated accounts holding the gross proceeds. Upon completion of the acquisition, these notes will gain first priority security interests over specific assets.
Both the Secured and Unsecured Notes are unconditionally guaranteed by several subsidiaries of Genmab, ensuring robust backing for the obligations under the new credit facilities.
Regulatory Compliance
It is important to note that the Notes have not been registered under the Securities Act of 1933. They will be offered only to qualified institutional buyers and non-U.S. persons, ensuring compliance with all applicable regulations.
Investors should also be aware of restrictions on the transferability and resale of the Notes, further emphasizing the regulated nature of this offering.
Investor Information
For further inquiries or information regarding the offering and Genmab's strategic plans, investors can contact:
- Marisol Peron, Senior Vice President, Global Communications & Corporate Affairs
Phone: +1 609 524 0065 | Email: mmp@genmab.com - Andrew Carlsen, Vice President, Head of Investor Relations
Phone: +45 3377 9558 | Email: acn@genmab.com
Forward-Looking Statements
Genmab advises that any forward-looking statements provided herein are subject to risks and uncertainties. Investors are encouraged to review the company's filings with the SEC for more detailed information regarding potential risks.
This announcement is issued with the understanding that it does not constitute an offer to sell or a solicitation to buy securities.