Ipsen issues €500 million bond, debuting in market

Ipsen, a global biopharmaceutical company based in Paris, has successfully issued its first Rated Public Bond worth €500 million. The bond has a coupon rate of 3.875% and will mature in March 2032. This issuance follows recent credit ratings upgrades, receiving a BBB- from S&P and Baa3 from Moody's, both with a stable outlook. The bond was well-received by a diverse group of institutional investors, resulting in significant oversubscription. Aymeric Le Chatelier, Ipsen's Chief Financial Officer, highlighted that this transaction plays a crucial role in the company’s refinancing strategy. This includes the renewal of a €1.5 billion revolving credit facility completed earlier this month, enhancing Ipsen's debt maturity profile substantially. Ipsen focuses on developing innovative treatments in oncology, rare diseases, and neuroscience. With nearly a century of experience and operations in over 40 countries, the company aims to provide transformative medicines to patients globally. The announcement included a caution that while Ipsen is optimistic about its future, there are inherent risks in the pharmaceutical industry. These can affect the success of current and future medicines, and the company cannot guarantee specific outcomes. The bond offering will not be available to retail investors in the European Economic Area or the United Kingdom.