Morphosys makes equity-linked debut with €325m convert

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By Aidan Gregory
13 Oct 2020

Morphosys, the German biotech company, has tapped the equity-linked market with a new €325m convertible bond, adding to the flood of issuance from the sector during the pandemic.

The new five-year bond was marketed with an initial coupon range of 0.625%-1.125%, and a conversion premium range of 35%-40% above the volume weighted average price of Morphosys stock during bookbuild.

According to a source close to the transaction, the bonds subsequently priced at a 0.625% coupon and ...

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