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Hovione Set for Production Capacity Expansion

CDMO issues $50 million bond to fuel growth plans

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By: Tim Wright

Editor-in-Chief, Contract Pharma

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 $...

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