DocMorris Concludes Private Placement of Convertible Bonds

DocMorris AG has successfully finalized the private placement of its Convertible Bonds due 2031, raising CHF 100 million. The company adjusted its bond strategy by extending the maturity from 2028 to 2031 and reducing the coupon rate from 3.0% to 1.5%. This strategic move helps in managing share dilution by decreasing shares underlying the 2028 bonds from 7.6 to 7.0 million.

The new bonds, each valued at CHF 200,000, come with a conversion premium of 32.5% above the reference price, determined by the volume-weighted average price of the shares. Strong institutional interest led to substantial oversubscription, allowing DocMorris to secure favorable terms.

Funds from this offering will partially finance the repurchase of 2028 bonds, with broader allocations for general corporate purposes. The transaction was managed by BofA Securities and UBS Europe SE, acting as global coordinators and joint bookrunners.