Pharming Group announces the placement of €100 million convertible bonds due 2029
Pharming Group N.V. ("Pharming" or the "Company") (Euronext Amsterdam: PHARM) announces today the placement of €100 million of senior unsecured convertible bonds due 2029 (the “New Bonds”) convertible into new and/or existing ordinary shares in the capital of the Company (the "Shares"). The offer was fully subscribed. The New Bonds were offered via an accelerated book building process through a private placement only to institutional investors outside the United States of America, Australia, Canada, Japan and South Africa.
Sijmen de Vries, Chief Executive Officer of Pharming, said:
“This successful convertible bond issuance demonstrates strong support from investors and is a positive step for Pharming. Taking into consideration the upcoming maturity of our convertible bonds in January 2025, this issuance and repurchase strengthens our financial position while enhancing flexibility for the continued execution of our business strategy over the next several years.”