Pharming bond placement to raise 125 million euros

14 January 2020

Dutch specialty pharma Pharming Group (Euronext Amsterdam: PHARM) has announced the placement of 125 million euros ($139 million) of senior unsecured convertible bonds due 2025.

The offer was fully subscribed, with the funds to be used to redeem the $56 million loan with Orbimed Advisors and to extend its debt maturity through the period to approval of most of the company’s existing pipeline.

Money will also be used to support Pharming’s expansion of its commercialization and manufacturing infrastructure, and help to pay for the launch of the recently-acquired $20 million asset from Novartis (NOVN: VX), leniolisib, which is in development for a form of primary immunodeficiency.

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