Convertible bond issue for GENFIT

scientists make a microscope analysis
Natixis recently led a 180m convertible bond issue for GENFIT, which develops therapeutic solutions in metabolic and inflammatory diseases that notably affect the liver. This issue is the largest for a biopharmaceutical company in Europe and the first issue in France.

Supportive market conditions enabled GENFIT to benefit from competitive terms (3.5% coupon and conversion premium 30%). The initial amount size of the deal was increased from 150m to 180m as a result of the issues success. Proceeds will be used to complete phase III clinical development of Elafibranor, used to treat non-alcoholic steato-hepatitis (NASH). This convertible bond issue is Natixis fourth deal in a month after Artémis, Vallourec and Elis and reflects our strong franchise on this very active market segment.

Related articles

By visiting this website, you accept setting up cookies which are used for analytics purposes. We are all about protecting your privacy.