Industry, Logistics & Shipping

Hikma completes $500m Eurobond issue

Hikma Pharmaceuticals, the multinational pharmaceutical company rated BBB- / stable (S&P) and Ba1 / stable (Moody’s), announces that it has successfully completed a $500 million 5-year Eurobond, which will carry an annual coupon of 3.25%.
Khalid Nabilsi, Hikma CFO, said: “We are very pleased to announce the successful placement of this Eurobond despite the Covid-19 pandemic which has caused uncertainty in the financial markets. 
"The bond was three times oversubscribed backed by high interest from investors globally – a clear indication of the continuing confidence of international investors in our financial prospects. The net proceeds of the issue will strengthen the company’s financial position and provide the financial flexibility to capitalise on opportunities to support our strategic growth plans.” - TradeArabia News Service