Redcare Pharmacy N.V. Introduces EUR 300m Convertible Bonds

Redcare Pharmacy N.V. has announced the issuance of EUR 300 million in senior unsecured convertible bonds. These bonds, offering a coupon rate of 1.750-2.250% per annum, aim to replace outstanding bonds due in 2028 and support general corporate purposes.

The Company also invites holders of EUR 225 million worth of zero-coupon convertible bonds, also due in 2028, to tender their bonds for cash via a modified Dutch auction. The auction offers between EUR 99,000 and EUR 99,500 per EUR 100,000 nominal amount of bonds.

The new convertible bonds will mature in 2032 and are expected to trade on the Frankfurt Stock Exchange's Open Market post-settlement. Redcare Pharmacy plans to use the proceeds to repurchase existing bonds and fund its ongoing operations.