Idorsia in talks with bondholders, plans meeting for early May

By Marisa Wong

Los Angeles, April 17 – Idorsia Ltd. is in ongoing talks with holders of its convertible bonds due July 17, 2024 (ISIN: CH0426820350) regarding repayment of the bonds, according to a press release.

A bondholder meeting was initially planned for April 30 but is now expected to take place shortly after that, in early May.

Chief financial officer Andre C. Muller said in the press release, “We have had many interactions with our bondholders in the past week. We are finalizing our proposed amendment to the terms and conditions of the bond, taking into account the bondholder needs as well as our objective to avoid unnecessary dilution. We expect to publish the invitation to the bondholders meeting in the next few days.”

The company said it has also published its unaudited financial status as of March 31 on its website (http://www.idorsia.com/investors/financial-information). The financials are required for the upcoming bondholder meeting.

The biopharmaceutical company is based in Allschwil, Switzerland.

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