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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.
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