Ad hoc announcement pursuant to Art. 53 LR
Ferring Pharmaceuticals successfully launches its second Swiss Franc Bond offering for CHF 410 million
Saint-Prex, Switzerland – 17 March 2023 – Ferring Pharmaceuticals announced the successful launch of its second Swiss Franc Bond offering for an amount totalling CHF 410 million. This senior unsecured bond transaction issued by Ferring Holding SA comprised two tranches, CHF 250 million with 4-year maturity to 21st April 2027 at a fixed coupon rate of 2.70% per annum, and CHF 160 million with 8-year maturity to 21st April 2031 at a fixed coupon rate of 3.25% per annum. The bonds will be listed on the SIX Swiss Exchange.
In a volatile market, 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 positive outlook.
Dominic Moorhead, Chief Financial Officer of Ferring Pharmaceuticals, said: “We are very happy with the successful outcome of our second bond offering in a difficult market environment, which represents a strong endorsement of the company’s progress. Following the approval of two ground-breaking products by the US Food and Drug Administration (FDA) in late 2022, we continue investing in these exciting growth opportunities.”
The net proceeds from the transaction will be used for general corporate purposes. 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 employs over 7,000 people worldwide. The company has operating subsidiaries in more than 50 countries and markets its products in over 100 countries.