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Scranton Plasma, a unit of key Grifols (NASDAQ:GRFS) shareholder Scranton Enterprises, has reached an agreement with Oaktree Capital Management to refinance its debt worth as much as €377M ($404.5M), Reuters reported Wednesday.
The unit focuses on delivering plasma collected from the U.S. Germany and Hungary to the Spanish plasma therapeutics company to manufacture immune therapies.
"Scranton Plasma BV has signed a new three-year binding agreement to refinance the existing indebtedness of the group," Bloomberg reported, quoting a July 2 statement from Scranton.
Scranton, an entity linked to the founding family of Grifols (GRFS), came under investor scrutiny early this year when the hedge fund Gotham City released a short-seller report accusing the company of manipulating its financial results related to leverage.
The allegations led to an investigation by Spain's market regulator, CNMV, and prompted Grifols (GRFS) to change its governance structure and upwardly revise its leverage.