MorphoSys buys back €62.9 million of convertible bonds due 2025

By Marisa Wong

Los Angeles, March 27 – MorphoSys AG said it repurchased outstanding convertible bonds due 2025 (ISIN: DE000A3H2XW6) through a modified reverse Dutch auction procedure announced on March 23.

At the close of the modified reverse Dutch auction procedure, the company agreed to purchase bonds representing €62.9 million aggregate principal amount, or 19% of the outstanding principal amount, according to a press release on Friday.

The purchase price per €100,000 nominal amount will be €64,000. In addition, the company will pay interest accrued from and including the immediately preceding interest payment date to but excluding the settlement date, which amounts to €283.311 per bond.

After settlement of the buyback, which is expected to occur on or around March 30, an aggregate principal amount of €262.1 million will be outstanding.

MorphoSys is a Munich-based biopharmaceutical company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.