Aspen secures €3.4bn credit line

Aspen Pharmacare, Africa’s biggest generic drugmaker, said on Thursday it had secured a €3.4-billion ($4-billion) credit facility for refinancing debt at three of its subsidiaries. Aspen, which has operations in 50 countries, said the facilities were 70 percent oversubscribed and would be used for Aspen Finance, Pharmacare Limited t/a Aspen Pharmacare and Aspen Asia Pacific. It did not provide further details.