Inventiva Repays €62M EIB Loans, Secures €75M New Debt Financing
Inventiva S.A. announced the completion of key financial transactions, including the full repayment of approximately €62.2 million in existing European Investment Bank (EIB) Loans. Concurrently, the company repurchased 2,266,023 EIB Tranche A Warrants and 700,000 EIB Tranche B Warrants for €50 million. Inventiva also issued the first two tranches of new debt financing, comprising €35 million in Tranche A Convertible Bonds and €40 million in Tranche B Amortized Bonds, with an initial aggregate drawdown of €75 million from funds managed by BlackRock and Claret Capital Partners. Additionally, the Subscription Agreement was amended to adjust the minimum cash covenant testing mechanism and establish legal personality for bondholder representatives.
Key Highlights
- Repaid €62.2 million in outstanding EIB Loans.
- Repurchased 2,266,023 EIB Tranche A Warrants and 700,000 EIB Tranche B Warrants for €50 million.
- Issued €35 million in Tranche A Convertible Bonds to BlackRock and Claret Capital Partners.
- Issued €40 million in Tranche B Amortized Bonds to BlackRock and Claret Capital Partners.
- Initial aggregate drawdown of new debt financing totaled €75 million, yielding net proceeds of €71.3 million.
- Issued 1,624,196 Tranche A/B Lenders' Warrants with an exercise price of €4.1559.
- Amended the Subscription Agreement to modify the minimum cash covenant testing and formalize bondholder representation.
Price Impact
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