Hikma Pharmaceuticals prices 5-year $500mln Reg S bond
Final books were at $600 million, with Hikma Finance USA listed as the issuer.
Hikma Pharmaceuticals, which is listed on the London Stock Exchange and Nasdaq Dubai, is the guarantor on the bond, with a rating of BBB Stable by S&P and BBB Stable by Fitch, in line with the expected issue rating.
The settlement date for the notes is July 8, 2025.
Citi and HSBC have been appointed as Joint Global Coordinators, with Citi, Emirates NBD Capital, HSBC, Mashreq and Mizuho named as Joint Lead Managers and Bookrunners.
The bond will be listed on the International Securities Market of the London Stock Exchange.
Founded in Jordan in 1978, Hikma is the second largest pharmaceutical company in MENA by sales.
Last week, 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 Daniel Luiz)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
22 minutes ago
- Khaleej Times
Are you ready for the new financial ecosystem taking over the world?
Sometimes, I feel like I'm living in a parallel universe. I've been learning about crypto since 2017 and investing in it for the past two years. And until last December, I'd met almost no one who really understood what was going on in this space — let alone anyone who was actually in it. That changed at the Bitcoin MENA conference last year, my first such event, where I found my people. Speaker after speaker echoed what I'd been sensing, but still wasn't sure about: that a new undeniable and unstoppable financial ecosystem is emerging. All while the majority of people remain oblivious. I get it. I've been here before. In the late 1990s, I took a basic weekend HTML coding course back in Canada. No one in my circle was doing anything like that, and I wondered if I was a bit crazy — but if I was, then my fun fellow classmates were, too. I didn't pursue HTML, and regrettably didn't invest in any web projects, but I left with enough of a clue to understand what was happening a few years later as newsrooms started going digital. It's a situation that feels very familiar now. And everywhere I look, daily, there are signs of a paradigm shift. The meme that made me laugh out loud this week featured a sketch of a guy on an old-school phone, saying: 'I'd like a wake-up call.' Underneath, a woman replies: 'There's only ever going to be 21 million Bitcoin.' That's it. That's whole joke. It's brilliant. Too bad there's no one around for me to show it to. The use cases for Bitcoin and the range of tokens go far beyond buying low and selling high. The US Federal Housing Finance Agency just announced that crypto can now count as a borrower asset in mortgage applications — as long as it's held on a regulated US exchange. That means you might soon be able to use Bitcoin as collateral to buy a house. This signals trust in crypto — and in the exchanges that hold it. The best of them may become banks in their own right, just not the kind we're used to. Institutional investment is flooding in. In April, major US firm Cantor Fitzgerald announced a $3.6 billion (Dh13.2 billion) crypto venture with Tether and SoftBank, based on the way Michael Saylor's company Strategy acquires Bitcoin for investors using traditional financial tools. Strategic asset More and more traditional financial analysts and CEOs are starting to describe Bitcoin as a long-term strategic asset. Even with the recent geopolitical tension, which would have sent it crashing in the past, Bitcoin dipped briefly below $100,000 (Dh367,300) — before becoming poised for a new all-time high. What's happening right now is that the global financial system is moving on-chain. Crypto isn't fringe anymore — it's foundational. In the UAE you can now pay for your taxi fare in AE Coin (AEC), a regulated stablecoin backed by the dirham. The Dubai Department of Finance has partnered with to allow people to pay for government services with digital currencies. Here in the UAE, blockchain events regularly draw huge crowds. The country is known for being a global crypto hub — one that is years ahead in both infrastructure and regulation. This is how adoption works — bit by bit, until one day it's everywhere. In the US, the Senate recently passed the Genius Act, a bipartisan bill creating a regulatory framework for stablecoins. Trump called it 'pure genius', saying it would make America the leader in digital assets. There is a huge runway for stablecoins, which serve as a bridge between the traditional and digital financial worlds. As Citi reported recently, the stablecoin market could hit $3.7 trillion (Dh13 trillion) by 2030. To put that in perspective, the total crypto market cap as of now is about $3.45 trillion (Dh12 trillion). The biggest players? Circle (which issues USDC) and Tether (issues USDT), which are quietly evolving into some of the largest financial firms on the planet. Across the globe, momentum is building in other areas too. In just a smattering of signs: Bhutan is now the world's third-largest Bitcoin holder. Coinbase is buying BTC weekly. Ethereum ETFs are setting records and one month after Coinbase joined the S&P 500; on the index that tracks the 500 largest publicly traded US companies, it was the top performer. In seven years, I've watched crypto go from being dismissed as a scam to all of the above. And still, most people don't know about it — and don't seem to want to. If you're still reading, congratulations. You've answered your wake-up call. You're in the smart money minority. And lucky for you, this is really just getting started. KT Luxe
The National
an hour ago
- The National
US imposes new sanctions against Iran oil trade and Lebanon's Hezbollah
The US has imposed new sanctions against a network that smuggles Iranian oil falsely presented as Iraqi oil and on a Hezbollah-controlled financial institution, the Treasury Department said. A network of companies run by Iraqi-British national Salim Ahmed Said has been buying and shipping billions of dollars worth of Iranian oil disguised as, or blended with, Iraqi oil since at least 2020, the department said. 'Treasury will continue to target Tehran 's revenue sources and intensify economic pressure to disrupt the regime's access to the financial resources that fuel its destabilising activities,' Treasury Secretary Scott Bessent said. The US has imposed layers of sanctions on Iran's oil exports over its nuclear programme and funding of militias across the Middle East. 'As President Trump has made clear, Iran's behaviour has left it decimated. While it has had every opportunity to choose peace, its leaders have chosen extremism,' added Mr Bessent. The Treasury Department also issued sanctions against seven senior officials and one entity linked to Al Qard Al Hassan (AQAH), a Hezbollah-controlled financial institution. The armed Hezbollah group is Iran's proxy in Lebanon. 'These officials, through their management roles, have facilitated Hezbollah's evasion of sanctions, enabling AQAH to conduct millions of dollars in transactions through 'shadow' accounts,' said State Department spokeswoman Tammy Bruce. This comes as the Trump administration intensifies efforts to pressure Tehran into returning to nuclear negotiations and to clamp down on its proxies across the region. The US carried out strikes on June 22 on three Iranian nuclear sites including its most deeply buried enrichment plant, Fordow. The Pentagon said on Wednesday the strikes had degraded Iran's nuclear programme by up to two years, despite a far more cautious initial assessment that had leaked to the public. The US and Iran were expected to hold talks about its nuclear programme next week in Oslo, Axios reported. Said's companies and vessels blend Iranian oil with Iraqi oil, which is then sold to western buyers through Iraq or the Gulf as purely Iraqi oil using forged documentation to avoid sanctions, Treasury said. Said controls Gulf-based company VS Tankers, although he avoids formal association with it, the Treasury said. Formerly known as Al Iraqia Shipping Services & Oil Trading (Aissot), VS Tankers has smuggled oil for the benefit of the Iranian government and the Islamic Revolutionary Guard Corps, which is designated by Washington as a terrorist organisation, it said. The sanctions block US assets of those designated and prevent Americans from doing business with them. Hezbollah trying to rebuild its operations The Lebanese armed group Hezbollah has been severely weakened following a year-long war with Israel that ended in November. The US Treasury said the new sanctions underscore a commitment to disrupting the group's sanctions evasion schemes and supporting efforts by the new Lebanese government to limit Hezbollah's influence. 'Through their roles at AQAH, these officials sought to obfuscate Hezbollah's interest in seemingly legitimate transactions at Lebanese financial institutions, exposing these banks to significant AML/CFT [money laundering and terrorism financing] risk while allowing Hezbollah to funnel money for its own benefit,' said Deputy Secretary Michael Faulkender. 'As Hezbollah seeks money to rebuild its operations, Treasury remains strongly committed to dismantling the group's financial infrastructure and limiting its ability to reconstitute itself,' he added. Hezbollah has long been described as a 'state within a state' in Lebanon, maintaining its own military, security and social infrastructure that operates independently of government control. It also runs a parallel financial system, receiving funding from Iran and various independent sources, while managing its finances outside official state institutions. Ms Bruce said that Washington remains committed to supporting Lebanon by disrupting schemes that empower Hezbollah's destabilising influence. 'We will continue to employ all available tools to ensure that this terrorist group no longer poses a threat to the Lebanese people and the region,' she said.
Crypto Insight
an hour ago
- Crypto Insight
US Senator Cynthia Lummis drafts standalone crypto tax bill
US Senator Cynthia Lummis submitted a draft bill on Thursday, outlining several provisions to overhaul the tax code and exempt certain digital asset transactions from taxation after crypto amendments failed to appear in the budget package. The bill proposes a de minimis exemption for digital asset transactions and capital gains of $300 or less, with a $5,000 annual exemption cap. The Wyoming Senator also outlined provisions to exempt crypto lending agreements and digital assets used in charitable contributions from taxation. Additionally, the bill proposed deferring taxes on mining and staking rewards until the underlying assets are sold. Lummis said: 'This groundbreaking legislation is fully paid for, cuts through the bureaucratic red tape, and establishes common-sense rules that reflect how digital technologies function in the real world. We cannot allow our archaic tax policies to stifle American innovation. My legislation ensures Americans can participate in the digital economy without inadvertent tax violations,' she continued. The standalone draft bill is now the Wyoming Senator's best chance of passing the pro-crypto legislation promised to the crypto community after Senators passed the spending bill without addressing digital assets. Double taxation, unclear policies frustrate US crypto investors Digital asset taxation has become a hot-button issue in the crypto industry, with executives, investors, traders, and users frustrated by the lack of clarity and tax efficiency in the United States. One major topic of contention is the tax treatment of completely decentralized finance (DeFi) protocols and non-custodial platforms where the developers do not have control over funds or consensus rules. In June, US lawmakers on the House Financial Services Committee introduced an amendment to the Digital Asset Market Clarity Act of 2025, the crypto market structure bill, exempting developers of decentralized protocols from being classified as money-transmitting services. This would also exempt these DeFi protocols from the same tax reporting requirements as centralized exchanges and other crypto businesses employing a traditional business structure. US lawmakers are scrambling to include crypto provisions in the final version of the spending bill before it hits US President Donald Trump's desk. Source:
