Ferring Pharmaceuticals successfully launches its inaugural Swiss Franc Bond offering for an amount of CHF 270 million
Saint-Prex, Switzerland, 29th June 2020 – Ferring Pharmaceuticals announced the successful launch of its inaugural Swiss Franc Bond offering for a benchmark amount of CHF 270 million. This inaugural senior unsecured bond transaction issued by Ferring Holding SA has a fixed coupon rate of 1.05% per annum. The bond was issued at a price of 100.097% with a 5-year maturity on 9th July 2025, and will be listed on the SIX Swiss Exchange.
The offering attracted much interest from high-quality institutional investors and banks, demonstrating recognition of the company’s successful track record and solid cash generation. The company is rated as BBB (Credit Suisse) and Baa- (Fedafin), both with a stable outlook.
Dominic Moorhead, Chief Financial Officer of Ferring Pharmaceuticals, said “We are very happy with the successful outcome of our inaugural bond offering – and for a private company, entering a public capital market is a significant step. This is strong acknowledgement of the company’s achievements, and will enable us to firmly move forward with our next phase of growth.”
The net proceeds from the transaction will be used for general corporate purposes including repayment of debt. The issue was lead-managed by Credit Suisse AG and Basler Kantonalbank, with Banque Cantonale Vaudoise acting as co-manager.
About Ferring Pharmaceuticals
Ferring Pharmaceuticals is a research-driven, specialty biopharmaceutical group committed to helping people around the world build families and live better lives. Headquartered in Saint-Prex, Switzerland, Ferring is a leader in reproductive medicine and maternal health, and in specialty areas within gastroenterology and urology. Ferring has been developing treatments for mothers and babies for over 50 years and has a portfolio covering treatments from conception to birth. Founded in 1950, privately-owned Ferring now employs approximately 6,500 people worldwide, has its own operating subsidiaries in nearly 60 countries and its products are available in 110 countries.