Formycon Announces EUR 50 Million Corporate Bond Issuance for Growth

Formycon AG plans to issue a four-year corporate bond with a target volume of EUR 50 million to support its growth in the biosimilar market. The bond, unsecured and governed by Norwegian law, is aimed at fostering the development of Formycon's biosimilar product portfolio. It will be offered through a public subscription on the Formycon website and Deutsche Börse’s DirectPlace platform starting June 18.

The interest rate for the bond is set to be 3-month EURIBOR plus a margin of 7.0% to 7.5% per annum. The bond will launch publicly in Luxembourg, Germany, and Austria, with approvals expected shortly from relevant financial authorities. IKB Deutsche Industriebank AG and Pareto Securities AS will lead the transaction.

The proceeds will assist Formycon in transitioning its corporate financing towards a long-term framework, optimizing its capital structure and strengthening its market position. The bond will trade on the Frankfurt Stock Exchange and potentially on Euronext ABM.