Pharming Group announces the repurchase of outstanding €125 million convertible bonds due 2025
Pharming Group N.V. announces the final results of its invitation to Eligible Bondholders (as defined below) of the outstanding €125 million 3.00% senior unsecured convertible bonds due 2025 issued on 21 January 2020 (the “2025 Bonds”; ISIN: XS2105716554) to tender for purchase via a reverse bookbuilding process for cash any and all of their 2025 Bonds (the “Invitation”).
Pharming announces the repurchase of €123.1 million of the 2025 Bonds, which represents 98.5% of the outstanding aggregate principal amount of the 2025 Bonds, on the basis of a final repurchase price per 2025 Bond equal to €100,000. In addition, the Company will pay accrued and unpaid interest from, and including, 21st January 2024 (being the last interest payment date for the 2025 Bonds prior to the Invitation) to, but excluding, the Invitation settlement date, which is expected to occur on 26th April 2024. Any 2025 Bonds repurchased by the Company in connection with the Invitation will be cancelled in accordance with the terms and conditions of the 2025 Bonds.
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