We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Biopharma Credit Plc | LSE:BPCR | London | Ordinary Share | GB00BDGKMY29 | ORD USD0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.876 | 0.876 | 0.878 | 0.878 | 0.876 | 0.876 | 2,272,023 | 16:29:57 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Finance Services | 135.74M | 108.45M | 0.0833 | 10.56 | 1.15B |
TIDMBPCR
RNS Number : 3305B
BioPharma Credit PLC
20 September 2018
BIOPHARMA CREDIT PLC
(THE "COMPANY")
NEW INVESTMENT
BioPharma Credit PLC (LSE: BPCR) is pleased to announce that, on 19 September 2018, it entered into a definitive loan agreement for US$150 million with a commercial-stage $2bn+ market cap biopharmaceutical company.
Under the terms of the transaction, the Company will invest US$150 million in a senior secured loan that has a term of five years, 2 per cent. additional consideration and bears interest at LIBOR plus 7.5% subject to a floor of 1% and certain caps. The loan is interest-only for the first four years, amortises over the remaining term, and can be prepaid at any time, subject to prepayment fees. The loan is expected to close and be funded within 6 business days. BPCR will provide additional details about the borrower later today, after they publicly announce the transaction.
The funding will be completed from the assets attributable to the C Shares of the Company only. Following this investment, the C Shares will be 100 per cent. invested and therefore eligible for conversion into ordinary shares, as outlined in the Prospectus published on 14 March 2018. Further details regarding conversion will be announced in due course after funding has completed.
Link Company Matters Limited
Company Secretary
20 September 2018
Enquiries:
Buchanan
David Rydell / Mark Court/ Jamie Hooper/ Henry Wilson
+44 (0)20 7466 5000
Biopharmacredit@buchanan.uk.com
Notes to Editors:
BioPharma Credit PLC is London's only listed specialist investor in debt from the life sciences industry and joined the LSE on 27 March 2017. The Company seeks to provide long-term shareholder returns, principally in the form of sustainable income distributions from exposure to the life sciences industry. The Company seeks this objective primarily through investments in debt assets secured by royalties or other cash flows derived from the sales of approved life sciences products.
This announcement contains Inside Information as defined under the Market Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
UPDBKLLFVKFXBBB
(END) Dow Jones Newswires
September 20, 2018 02:01 ET (06:01 GMT)
1 Year Biopharma Credit Chart |
1 Month Biopharma Credit Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions