Bayer announced on Friday that it had refinanced via the establishment of a new five billion euro revolving credit facility

The German chemical and pharmaceutical giant says that this credit facility replaces and exceeds an undrawn 4.5 billion euro financing line, which had been concluded in December 2018.

This new five-year credit line, with two
one-year extension options, attracted strong interest from banks as it was underwritten by a syndicate of 23 lending institutions, the group says in a brief statement.

Following this announcement, the share was up by more than 2% on Friday on the Frankfurt Stock Exchange, signing the second highest gain on the DAX index. The share is still down over 40% since the start of the year.

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