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Calendar quirk could keep issuance going in December
◆ Praemia refis at a tighter coupon ◆ Schneider lands tight at the short end ◆ Minimal concessions needed
French biotech seeks to accelerate cancer vaccine program
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Aedifica, the Belgian healthcare real estate investment company, which owns a portfolio of care homes, has launched a €459m rights issue to fund an acquisition and to grow its development pipeline. Sources close to the deal are confident that the cash call will be popular given investor demand for exposure to speciality real estate businesses.
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Wilhelm Beier, the German billionaire founder of Dermapharm Holding, has trimmed his stake in the pharmaceuticals company.
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Zambia looks set to be Africa’s first sovereign to default due to the coronavirus crisis. This already complex situation could be being made even more complicated by China — a big bilateral lender to Zambia.
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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.
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Swiss biotechnology company Idorsia has opened the books on its Sfr575m ($629m) at-market rights issue to fund the commercialisation of insomnia drug daridorexant.
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For CMA CGM, a French shipping company, the pandemic came in the nick of time. The group was struggling with debt maturities and dwindling liquidity in late 2019, but abundant state aid funding has allowed it to shore up its balance sheet return to market this week to refinance its 2021s.