Hikma Pharmaceuticals issues mandate for USD Reg S 5-year bond
Citi and HSBC have been appointed as joint global coordinators and joint bookrunners, and Emirates NBD Capital, Mashreq and Mizuho as joint bookrunners, which will undertake a series of fixed income investor meetings commencing Monday.
The notes are expected to be assigned a rating of BBB by S&P and BBB by Fitch.
Founded in Jordan in 1978, Hikma is the second largest pharmaceutical company in MENA by sales and is listed on the London Stock Exchange and Nasdaq Dubai.
Over the weekend, Hikma unveiled a $1 billion investment strategy to bolster its manufacturing and research capabilities across the US by the year 2030. The company's expansion will enhance facilities in Ohio and New Jersey.
(Writing by Bindu Rai, editing by Seban Scaria)
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