Bondholders approve amended terms of the 2025 and 2028 convertible bonds

Core Viewpoint - Idorsia Ltd. successfully held bondholder meetings to approve amendments to the terms of its convertible bonds, extending their maturity dates significantly [1][2][3]. Group 1: Bondholder Meetings - Two bondholder meetings were conducted for Idorsia's CHF 200 million convertible bonds maturing in 2025 and CHF 600 million convertible bonds maturing in 2028 [2]. - The amendments include extending the maturity date of the CB 2025 to July 17, 2034, and the CB 2028 to August 4, 2038 [2]. Group 2: Voting Outcomes - A significant majority of 89.5% of CB 2025 holders and 93.5% of CB 2028 holders voted in favor of the amendments, surpassing the required two-thirds majority [3]. - The amendments will become binding upon approval by the higher cantonal composition authority and are contingent on the completion of the repurchase offer for both bonds [3]. Group 3: Company Overview - Idorsia Ltd. aims to challenge medical paradigms and develop transformative medicines, positioning itself as a leading biopharmaceutical company [6]. - The company is headquartered near Basel, Switzerland, and has a strong focus on small-molecule drug discovery [7].