Aspen Topspin 2

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The proposed investment is an up to EUR500 million financing package comprising (i) an unsecured, straight senior loan (“A” loan) of up to EUR150 million from IFC and; (ii) mobilization of parallel loans of up to EUR350 million to Aspen Treasury Ireland Limited (ATIL), a wholly owned subsidiary of Aspen Pharmacare Holdings Limited (Aspen or the Company). The financing will support: (i) Aspen’s corporate financing program to assist the Company in expanding its capacity to deliver medicines, diabetes insulin and pediatric vaccines in Africa; the Company’s investment in ongoing product development and acquisition of product portfolios; (iii) the Company’s investments in emerging markets manufacturing capabilities; and (iv) to refinance existing debt and strengthen the Company’s balance sheet (the ‘Project’).  The Company plans to use its existing sterile production facilities in Gqeberha for insulin, anesthetic and vaccine production, which will not require new land acquisition and is located in a light industrial zone. Similarly, most of the company operations are located in well-developed industrial zones.  Aspen is Africa’s largest pharmaceuticals company, a manufacturer and distributor of lifesaving medicines and Active Pharmaceutical Ingredients (‘APIs’). The Company’s key business segments are Manufacturing and Commercial Pharmaceuticals comprising Prescription, Over-the-counter and Injectables. The Company’s manufacturing footprint includes seven API and 16 Finished Dose Form (“FDF”) production facilities situated across Africa, Asia, Europe and the United States (US). The Company supplies medicines to over 115 emerging and developed countries (including more than 20 in Africa) through its 65 established offices in more than 50 countries.  In 2021, IFC provided a financing package to Aspen Finance Proprietary Limited, a wholly owned subsidiary of Aspen, to refinance existing debt and strengthen the Company’s balance sheet, supporting Aspen’s operations including the production of vaccines, and other therapies in African and emerging markets https://disclosures.ifc.org/project-detail/ESRS/45174/aspen-pharmacare .