On May 27, 2024 Ferring Pharmaceuticals reported the successful launch of its third Swiss Franc Bond offering for an amount totalling CHF 330 million (Press release, Ferring, MAY 27, 2024, View Source [SID1234643713]). This senior unsecured bond transaction issued by Ferring Holding SA comprised two tranches, CHF 210 million with 5-year maturity to 28th June 2029 at a fixed coupon rate of 2.25% per annum, and CHF 120 million with 9-year maturity to 28th June 2033 at a fixed coupon rate of 2.50% per annum. The bonds will be listed on the SIX Swiss Exchange.

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

Dominic Moorhead, Chief Financial Officer of Ferring Pharmaceuticals, said: "We are pleased with the successful outcome of our third bond offering and the proceeds will be used for general corporate purposes, as we continue to invest in the launch and development of our new product opportunities."

The issue was lead-managed by UBS AG and Basler Kantonalbank, with Banque Cantonale Vaudoise acting as co-manager.