DocMorris completes CHF 100 million convertible bond placement

DocMorris AG has successfully completed a private placement of approximately CHF 100 million in convertible bonds due in 2031. The issuance, managed through its subsidiary DocMorris Finance B.V., was met with strong demand from institutional investors and was significantly oversubscribed.

The transaction is part of a strategic move to manage the company's capital structure. The new bonds will extend the company's financing horizon by pushing maturity from 2028 to 2031. Additionally, the coupon rate has been reduced from 3.0% to 1.5% per annum. The placement also aims to proactively manage dilution by reducing the number of shares underlying the outstanding 2028 convertible bonds from 7.6 million to 7.0 million. The conversion premium is set at 32.5% above the reference share price.