Sosei to gauge interest for buyback of 0.25% convertibles due 2026

By Mary-Katherine Stinson

Lexington, Ky., Nov. 28 – Sosei Group Corp.’s board of directors resolved on Nov. 28 to receive indications of interest from holders of the company’s outstanding ¥30 billion of 0.25% convertible bonds due 2026 (ISIN: XS2363140810) to purchase for cash up to the total principal amount of the outstanding bonds, according to a notice.

The offer will be extended to non-U.S. persons.

The repurchase price will be determined by the company.

The company may, at its discretion, continue to buy back on-market any remaining existing convertible bonds following this repurchase. Under the terms of the bonds, if 90% or more of the bonds have been converted or redeemed, they are subject to a clean-up call at par plus interest.

The biopharmaceutical group is based in Tokyo and has research facilities in Cambridge, U.K. Its corporate brand and trademark is Sosei Heptares.

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