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Pharmacare Finance p.l.c. (the “Issuer”) has announced the issuance of €17,000,000 6% Unsecured Bonds maturing in 2033, having a nominal value of €100 per bond issued and redeemable at par.
The Issuer shall be calling a meeting of the 5.75% Pharmacare Finance Plc 2025-2028 (the “2018 Prospects MTF Bonds”) bondholders to consider the early redemption of the 2018 Prospects MTF Bonds in terms of the Company Admission Document dated 17 October 2018. Upon redemption of the 2018 Prospects MTF Bonds, all bondholders of the said 2018 Prospects MTF Bonds will be afforded a premium in the form of payment of a redemption price of one Euro (€1) per 2018 Prospects MTF Bond held as at the Cut-Off Date (as defined in the Prospectus of the Issuer dated 5 December 2022 (the “Prospectus”)).
Preference shall be given to bondholders of the 2018 Prospects MTF Bonds.
Please find the prospectus here.
If you decide to apply for these bonds, kindly follow the “How to Apply” section at the bottom of this news item or contact us on +25 688 688 or [email protected] or via live chat on ww.cc.com.mt for more information.
Dar Al-Shifa Pharmaceuticals plc, the ultimate parent company of the Issuer, was established in 1985 as a public limited company in Palestine. In 1999, it entered into a joint venture with the Wirtz family, owners of the German pharmaceutical company Grunenthal. With this continued partnership, the company attained stringent EU Good Manufacturing Practice (GMP licence to produce and market pharmaceuticals in the EU) issued by the German Medicines Authorities and has been supplying pharmaceutical products to the European market since 2008. Dar Al-Shifa Pharmaceuticals plc has a 12% local market share with 150 products and 330 employees. The company was listed on the Palestine securities exchange in June 2013.
The Group chose Malta as its European base through the establishment of Pharmacare Premium Limited (the “Guarantor”). Pharmacare Premium Limited’s facility in Hal Far is a pharmaceutical manufacturing plant for tablets and capsules, with a capacity of up to 200 million units per year. This facility has an EU Good Manufacturing Practice licence to produce pharmaceutical products issued by the Malta Medicines Authorities. It is designed and dedicated to produce high-potency medicines, a special and niche segment of pharmaceutical products used in oncology (anti-cancer treatments), multiple-sclerosis, antivirals, and other specialized therapies.
Pharmacare Premium Limited is a generic pharmaceutical company, its business model is based on launching a product as soon as the exclusivity (patent) granted to the innovator company expires allowing generic companies to compete in the marketplace.
USE OF PROCEEDS:
The proceeds from the bond issue, which net of bond issue expenses, are expected to amount to approximately €16,650,000, will be on-lent by the Issuer to the Guarantor, pursuant to a loan agreement to be entered into between the Issuer and the Guarantor for the purpose, and will be utilised for the following purposes, in the following amounts and order of priority:
HOW TO APPLY:
Our Moneybase Invest clients can apply online whilst our Financial Advisory clients can speak to their Financial Advisor at one of our four branches (Mosta, Sliema, Birkirkara and Fgura) by calling us on +25 688 688.
Should you prefer to apply through our Moneybase Invest platform, kindly follow the instructions below:
If you are a holder of the existing 5.75% Pharmacare Finance Plc 2025-2028 bonds, enter the instrument name 6% Pharmacare Finance 2033 – Exchange to exchange your existing bonds for New Bonds. You can also apply for additional bonds using the instrument 6% Pharmacare Finance 2033 – Additional.
New subscribers can apply by using the instrument name 6% Pharmacare Finance 2033 – New Applicant.
The minimum application amount is €1,000 and in multiples of €100 thereafter.
Non-nominee applications will be subject to a €25 fee.
The value of the investment can go down as well as up and past performance is not necessarily indicative of future performance. Investing in the bonds of the Issuer may result in a loss of some or all of the capital invested. Prospective investors wishing to subscribe to the bonds should make their own assessment as to the suitability of the investment after reading the Prospectus to fully understand the features of the investment and the potential risks and rewards associated with the bonds. Prospective investors are to consult their independent financial advisor as to the suitability or appropriateness of investing in the bonds. Prospective investors are advised that where an appropriateness assessment is not required investors do not benefit from the corresponding protection afforded under the Conduct of Business Rules.
This advert was approved for issue by Calamatta Cuschieri Investment Services Limited, which is licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap 370. CCIS, Ewropa Business Centre, Triq Dun Karm, Birkirkara BKR 9034, Malta.
The information provided on this website is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Similarly, any views or opinions expressed on this website are not intended and should not be construed as being investment, tax or legal advice or recommendations. Investment advice should always be based on the particular circumstances of the person to whom it is directed, which circumstances have not been taken into consideration by the persons expressing the views or opinions appearing on this website. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views, or opinions appearing on this website. You should always take professional investment advice in connection with, or independently research and verify, any information that you find or views or opinions which you read on our website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. CC does not accept liability for losses suffered by persons as a result of information, views, or opinions appearing on this website.
Calamatta Cuschieri Investment Services Ltd is licensed to conduct investment services business under the Investments Services Act by the MFSA and is also registered as a Tied Insurance Intermediary under the Insurance Distribution Act.
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