Recordati : Focus Emission
Rossini (B2/B), the holding company of Recordati, an Italian mid-size pharma, has announced of a new € 650m FRN to redeem the existing FRN issued in October 2018. The existing paper will therefore be redeemed at the first call date on 31 October at a premium of 1%, i.e. a cost of € 6.5m. The issuance terms are in line with the terms for the existing bond, including unchanged maturity at 30 September 2025 corresponding to a six-year maturity (including a one-year non-call period)....Recordati-Industria Chimica e Farmaceutica is a pharmaceutical group based in Italy. Co.'s operations are divided into two operating segments: pharmaceuticals (and pharmaceutical chemicals) and orphan drugs. Co.'s products include ZANIPRESS®/ZANEXTRA®/LERCAPREL®/LERCARIL®, an antihypertensive drug; ZANIDIP®/CORIFEO®/LERCADIP® (lercanidipine), an antihypertensive drug discovered and developed in Co.'s research laboratories; UROREC® (silodosin), a new drug indicated for the treatment of benign prostatic hyperplasia; and LIVAZO®/ALIPZA® (pitavastatin), a statin for the treatment of dyslipidemia, among others.
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