Grifols Keeps Door Open to Brookfield With Special Bond Term (1)

Grifols SA has included a term in its €1.3 billion ($1.4 billion) private debt placement that would allow Brookfield Asset Management Ltd. to refinance the deal early — a sign the Spanish drugmaker is leaving the door open for the private equity firm to make another approach.

The clause allows the debt to be redeemed within six months of being issued, at a price of 104% and accrued interest. But it can only be used by Brookfield, or a Brookfield-led group as the buyer of the company, according to people familiar with the deal.

Brookfield’s pursuit of Grifols formally ended ...