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2009-01-21 | permalink
Pharming redeems 5 mln euros in convertible debt
Dutch biotechnology firm Pharming said on Monday it is redeeming 5 million euros ($6.7 million) in convertible debt by paying 1 million euros in cash and converting the rest into shares. ”Pharming considers this situation as an opportunity to strengthen its balance sheet at favourable terms,” the company said. Rabo Securities, which rates Pharming shares ”reduce”, agreed, but said in a note it remained worried about its cash flow position.
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2009-01-21 | permalink
Pharming redeems 5 mln euros in convertible debt
Dutch biotechnology firm Pharming said on Monday it is redeeming 5 million euros ($6.7 million) in convertible debt by paying 1 million euros in cash and converting the rest into shares. ”Pharming considers this situation as an opportunity to strengthen its balance sheet at favourable terms,” the company said. Rabo Securities, which rates Pharming shares ”reduce”, agreed, but said in a note it remained worried about its cash flow position.
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