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BRIEF-Pharming group announces completion of replacement of its 100 million dollars bridge finance
July 21, 2017 / 5:25 AM / 5 months ago

BRIEF-Pharming group announces completion of replacement of its 100 million dollars bridge finance

July 21 (Reuters) - PHARMING GROUP NV:

* ANNOUNCES THAT IT HAS COMPLETED REPLACEMENT OF ITS RECENTLY ANNOUNCED US$100 MILLION BRIDGE FINANCE WITH ORBIMED ADVISORS

* REPLACEMENT IS A US$100 MILLION PERMANENT FACILITY AGREEMENT WITH ORBIMED ADVISORS.

* MATURITY DATE OF FULL LOAN JULY 2021 UNDER UNCHANGED TERMS AND CONDITIONS AS DESCRIBED BELOW.

* BOND CONVERSION PRICE OF EUR 0.289

* WILL NOT BE REQUIRED TO MAKE REPAYMENTS OVER NEXT 12 MONTHS OF ALMOST EUR 3 MILLION PER MONTH IN CASH (OR IN SHARES AT A DISCOUNT)

* WILL NOT BE REQUIRED TO MAKE REPAYMENTS OF ALMOST EUR 1 MILLION PER MONTH ON SENIOR DEBT FROM DEC THIS YEAR UNTIL SEPT OF NEXT YEAR Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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