Buchanan is pleased to have delivered a financial PR programme supporting BioPharma Credit on its latest oversubscribed placing of $305m. The placing target was revised upwards from $150m to $200m due to high demand and the ultimate raise of $305m was also subject to scaling back. The Buchanan team is delighted that this is one of 2018’s largest secondary issuances in alternative investment companies.
This marks the fourth successful placing of new shares for BioPharma Credit since its listing in March 2017, having now raised a total of almost $1.4bn. Buchanan has worked closely with the investment manager and the Board to support the company in its growth trajectory liaising with senior executives and bookrunners JP Morgan, Goldman Sachs, BAML and Canaccord Genuity.
The company is now one of the largest debt investment companies listed in London and the only investment company with a mandate focused on life sciences credit. Buchanan has used this differentiation to assist in the transformation of this relatively newly listed company into a prominent player of major scale in London’s listed institutional alternative income funds.