Hovione Issues $50 Million Bond

Lisbon (ots/PRNewswire) -

Hovione has issued a bond of $50 million US dollars maturing in
2033.

(Logo: https://mma.prnewswire.com/media/813604/Hovione_Logo.jpg )

The bond was arranged and subscribed by Banco BPI, S.A..

According to António Almeida, Hovione's CFO, "we issued this bond
to strengthen our balance sheet as we embark in a new phase of
significant capital expansion. We issued a USD denominated bond
because the majority of our sales is in the USA".

The bond is registered as "Hovione 2018-2033", has a nominal
amount of $50 million US dollars and a maturity of 15 years.

"2019 is the year when we celebrate our 60th Anniversary and we
are pleased that the market offers us good terms for a bond with a 15
years' maturity. We are building a business for the long term." said
Guy Villax, Hovione's CEO.

The decision to expand our production capacity follows growing
customer demand since, as a specialist integrated CDMO, Hovione is
increasingly being chosen as a solution partner from Drug Substance (
http://www.hovione.com/products-and-services/contract-manufacturing-s
ervices/drug-substance) to Drug Product (http://www.hovione.com/produ
cts-and-services/contract-manufacturing-services/drug-product).
Hovione is committed to listen to customers and to continue
supporting their evolving needs. Of the 59 drugs approved by the US
FDA in 2018, 4 of them had their process developed in our labs and
are produced in our plants.

The bond is registered in Euronext with the ISIN code:
PTHOVCOM0006.

About Hovione

Hovione has 60 years of experience as a Specialist Integrated CDMO
offering from drug substance to drug product intermediate to drug
product. With four FDA inspected sites in the US, Macau, Ireland, and
Portugal, and development laboratories in Lisbon and New Jersey, the
company provides branded pharmaceutical customers services for the
development and compliant manufacture of innovative drugs and is able
to support highly potent compounds. For generic pharmaceutical
customers the company offers niche off-patent API products. In the
inhalation area Hovione is the only independent company offering a
complete range of services. For further information please visit
http://www.hovione.com

Contact

Isabel Pina, Director of Corporate Communications

Tel.: 0035121 982 9362 - ipina@hovione.com

ots Originaltext: Hovione
Im Internet recherchierbar: http://www.presseportal.de

Original-Content von: Hovione, übermittelt durch news aktuell