Leading global law firm Baker McKenzie has advised biopharmaceuticals company Basilea Pharmaceutica Ltd. on the completion of its repurchase offer for existing convertible bonds due 2022 ("Existing Bonds") and the issuance of new convertible bonds due 2027 ("New Bonds").

Basilea will continue to pursue its goal of extending the maturity profile of its debt. After paying back the CHF 47 million of Existing Bonds tendered, it intends to earmark and place in escrow the majority of the remaining net proceeds from the New Bonds to be available to further reduce its mid-term debt. Immediately after the settlement of the New Bonds, Basilea has CHF 250 million outstanding convertible bonds. The settlement of the Existing Bonds and New Bonds occurred on 28 July 2020, together with the provisional listing of the New Bonds at SIX Swiss Exchange.

The issuance of the New Bonds was accompanied by the provision of a stock loan facility and a delta placement of shares on behalf of the investors to facilitate their hedging activities.

Goldman Sachs International and UBS Investment Bank acted as Joint Global Coordinators and Joint Bookrunners for the New Bonds issuance.

Baker McKenzie advised Basilea Pharmaceutica. The team was led by Dr. Matthias Courvoisier and included Dr. Yves Mauchle, Dr. Philip Spoerlé, Beau Visser, Tanja Schmid (Capital Markets), Hans Koch, Andrea Bolliger (Tax) as well as Adam Farlow and Charles Farnsworth (US Capital Markets).

Basilea Pharmaceutica Ltd. is a commercial-stage biopharmaceutical company, focused on the development of products that address the medical challenges in the therapeutic areas of oncology and infectious diseases. With two commercialized drugs, the company is committed to discovering, developing and commercializing innovative pharmaceutical products to meet the medical needs of patients with serious and life-threatening conditions.

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