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Hovione issues $50 million bond
Hovione has issued a bond of $50 million US dollars maturing in 2033.
Lisbon, 25 January 2019. Hovione has issued a bond of $50 million US dollars maturing in 2033.
The bond was arranged and subscribed by Banco BPI, S.A..
According to António Almeida, Hovione’s CFO, “we issued this bond to strengthen our balance sheet as we embark in a new phase of significant capital expansion. We issued a USD denominated bond because the majority of our sales is in the USA”.
The bond is registered as "Hovione 2018-2033”, has a nominal amount of $50 million US dollars and a maturity of 15 years.
“2019 is the year when we celebrate our 60th Anniversary and we are pleased that the market offers us good terms for a bond with a 15 years’ maturity. We are building a business for the long term.” said Guy Villax, Hovione’s CEO.
The decision to expand our production capacity follows growing customer demand since, as a specialist integrated CDMO, Hovione is increasingly being chosen as a solution partner from Drug Substance to Drug Product. Hovione is committed to listen to customers and to continue supporting their evolving needs. Of the 59 drugs approved by the US FDA in 2018, 4 of them had their process developed in our labs and are produced in our plants.
The bond is registered in Euronext with the ISIN code: PTHOVCOM0006.
Hovione has almost 60 years of experience as a Specialist Integrated CDMO offering from drug substance to drug product intermediate to drug product. With four FDA inspected sites in the US, Macau, Ireland, and Portugal, and development laboratories in Lisbon and New Jersey, the company provides branded pharmaceutical customers services for the development and compliant manufacture of innovative drugs and is able to support highly potent compounds. For generic pharmaceutical customers the company offers niche off-patent API products. In the inhalation area Hovione is the only independent company offering a complete range of services.