Biosenic: launch of a debt restructuring plan

(CercleFinance.com) - On Thursday, BioSenic announced the implementation of a financial restructuring plan aimed at safeguarding its most promising projects, first and foremost its Phase 3 clinical trial for the treatment of chronic graft-versus-host disease.


The Belgian biotech, which is listed on both Euronext Brussels and Euronext Paris, will propose to some of its bondholders to replace their outstanding loans totaling 7.5 million euros with new convertible bonds to be issued.

The plan also provides for an outstanding loan in the principal amount of 8 million euros to be replaced by new convertible bonds, again to be issued by BioSenic.

These convertible bonds would be unsecured and have a maturity date of end 2030.

BioSenic specifies that its project is based on a non-binding financing offer from a fund to finance its Phase 3 clinical trial in graft-versus-host disease.

The share price was suspended at the end of the morning.

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