Hovione has issued a bond of $50 million US dollars maturing in 2033. The bond was arranged and subscribed by Banco BPI, S.A..
 
According to António Almeida, Hovione’s chief financial officer, “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 U.S.”
 
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,” said Guy Villax, chief executive officer, Hovione. “We are building a business for the long term.
 
“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 to drug product. Hovione is committed to listen to customers and to continue supporting their evolving needs.”  
 
Of the 59 drugs approved by the U.S. FDA in 2018, 4 of them had their process developed in Hovione labs and are produced in its plants.
 
The bond is registered in Euronext with the ISIN code: PTHOVCOM0006.