Farminveste, S.G.P.S., S.A.

Farminveste was established in 2010, operating in the sectors of pharmacies, pharmaceutical distribution, information technologies, healthcare, health market intelligence, real estate and other services.

Capital Markets

2018

Technical admission* to Euronext Access and 1st Issuance of convertible bonds (“Bonds 2018-2021”)

In 2018, Farminveste listed 9.5 million of its class B shares on Euronext Access Lisbon. Additionally, the Company issued, during the same year, and through a private placement, 1 million convertible bonds at a unit subscription price of €5.0, with 3 years maturity and a fixed interest rate of 3.75%.

2019

2nd Issuance of convertible bonds (“Bonds 2019-2022”)

In 2019, through a public offer of subscription, Farminveste issued 2m convertible bonds at a unit subscription price of €5.0, with 3 years maturity and a fixed interest rate of 3.75%

2021

3rd Issuance of convertible bonds (“Bonds 2021-2025”)

In 2021, through a public offer of subscription, Farminveste issued 2.7 m convertible bonds at a unit subscription price of €5.0, with 4 years maturity and a fixed interest rate of 4.5%. The issuance included a voluntary exchange option for all the convertible bonds issued in 2018 for all the new bonds.

2022

4th Issuance of convertible bonds (“Bonds 2022-2026”)

In 2022, through a public offer of subscription, Farminveste issued 2.9 m convertible bonds at a unit subscription price of €5.0, with 4 years maturity and a fixed interest rate of 4.75%. The issuance included a voluntary exchange option for all the convertible bonds issued in 2019 for all the new bonds.

* Possibility of admission to trading without the need for prior dispersion of capital through a public offering or private placement of shares

Main reasons for the admission of Shares and the issuance of Convertible Bonds among investors

  • The technical admission of the Shares to trading on Euronext Access aimed at providing investors with a mechanism to facilitate the transaction of the Company’s shares, while allowing the creation of a market reference price for them. Additionally, the admission constituted an additional guarantee of credibility and transparency for the market
  • The issuance of convertible bonds aimed to:
  • Diversify funding sources;
  • Provide new forms of participation in the company’s capital structure;
  • Obtain funds for debt refinancing;
  • Fix the cost of debt and increase its maturity, by replacing part of the current debt.

The listing of the shares on Euronext Access enabled Farminveste to issue convertible bonds that offer shareholders and bondholders new forms of participation in its capital structure as well as raise funds to refinance debt and decrease the Company’s dependence on traditional banking, especially in the short-term.

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