DocMorris

DocMorris has successfully completed a privately placed convertible bond maturing in 2031. The volume is around CHF 100 million with a coupon of 1.5% and a conversion premium of 32.5% versus the reference price. The proceeds will be used to repurchase the 2028 convertible bond and for general corporate purposes, thereby extending the maturity profile to 2031. The number of underlying shares for the outstanding 2028 convertibles has been reduced from 7.6 million to 7.0 million. » Más en finanzen.net

DocMorris is launching a private placement of around CHF 100 million of senior, unsecured convertible bonds maturing in 2031 to finance the early repurchase of the 2028 convertible bond. The transaction extends the maturity, lowers the coupon to an expected 1.5–2.0% and reduces potential share dilution from 7.6 to 7.0 million shares while significantly increasing the conversion price. The new bonds will be offered to professional investors in Switzerland and outside Switzerland and are to be implemented, among other measures, through bilateral buybacks of existing holders of the 2028 convertible bond. » Más en de.investing.com

Jefferies raised the target price for DocMorris from 9.50 to 11.00 francs but cut its rating from Buy to Hold. Analyst Martin Comtesse said the downgrade was due to improved growth and margin prospects already being largely priced in. The DocMorris share briefly fell about 2 percent on the SIX. Jefferies named Redcare as its new favourite among online pharmacies. » Más en finanzen.net