On June 29, 2020 Ferring Pharmaceuticals reported the successful launch of its inaugural Swiss Franc Bond offering for a benchmark amount of CHF 270 million (Press release, Ferring, JUN 29, 2020, View Source [SID1234561530]). This inaugural senior unsecured bond transaction issued by Ferring Holding SA has a fixed coupon rate of 1.05% per annum. The bond was issued at a price of 100.097% with a 5-year maturity on 9th July 2025, and will be listed on the SIX Swiss Exchange.

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The offering attracted much interest from high-quality institutional investors and banks, demonstrating recognition of the company’s successful track record and solid cash generation. The company is rated as BBB (Credit Suisse) and Baa- (Fedafin), both with a stable outlook.

Dominic Moorhead, Chief Financial Officer of Ferring Pharmaceuticals, said "We are very happy with the successful outcome of our inaugural bond offering – and for a private company, entering a public capital market is a significant step. This is strong acknowledgement of the company’s achievements, and will enable us to firmly move forward with our next phase of growth."

The net proceeds from the transaction will be used for general corporate purposes including repayment of debt. The issue was lead-managed by Credit Suisse AG and Basler Kantonalbank, with Banque Cantonale Vaudoise acting as co-manager.