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Idorsia talks CHF 600 million convertible bonds due 2028 to yield 1.625%-2.125%, up 40%-45%
By Abigail W. Adams
Portland, Me., July 28 – Idorsia Ltd. plans to price CHF 600 million of convertible bonds due 2028 on Wednesday in a Regulation S offering with price talk for a yield of 1.625% to 2.125% and an initial conversion premium of 40% to 45%, according to a company news release.
The bonds are non-callable until Aug. 25, 2025 and then subject to a 150% premium.
They are putable on Aug. 4, 2026.
Proceeds will be used to support the commercialization and fund the further development of products in the company’s pipeline.
Idorsia is an Allschwil, Switzerland-based biotechnology company.
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