Debt Capital Markets Transactions

Mithra is a Belgian biotechnology company dedicated to transforming Women's Health by offering new choices through innovation, with a particular focus on contraception and menopause.

Ticker: MITRA BB
Country: Belgium
Sector: Biopharma
Listing: Regulated Market of Euronext Brussels

Coupon range: 3.500%-4.250% (s.a.)
Conversion premium range: 25.00%-30.00%
Issue price: 100% of the principal amount
Maturity: 5 years
Final pricing terms: 4.250% coupon, 25.0% conversion premium
Use of proceeds: Support ramp-up of expenses related to the Phase III study of the new generation hormone treatment Donesta® and the post-authorization safety study (PASS) of the Estelle® contraceptive treatment, funding of working capital needs and the R&D pipeline as well as financing of earnout obligations in 2021

Berenberg Role: Sole Global Coordinator and Joint Bookrunner
Timing:

• Launch: 10 December 2020
• Pricing: 10 December 2020

Ticker: LPSN US
Country: United States
Sector: Technology - Software
Listing: NASDAQ

Market Cap pre Transaction: c. USD 3,531m
Offer Structure: Rule 144a Convertible Notes Offering. $517,500,000 Total Deal Value
Coupon %: 0.00

Conversion Premium: 42.50

Conversion Price: USD 75.23 per note

Use of Proceeds: Pay the cost of capped call transactions and general corporate purposes, including acquisitions or other strategic transactions

Berenberg Role: Co-Manager

Timing:

• Launch: 1 December 2020
• Pricing: 1 December 2020
• Maturity Date: 15 December 2026

An operator of an online pharmacy. The Company markets and distributes non-prescription medications, beauty products, and personal care items across Europe.

Type: Incentivized Convertible Bond Conversion Offer
Issuer: Shop Apotheke Europe N.V.
Ticker: SAE GY
Country: Netherlands
Sector: Pharmaceutical Distribution
Redemption size: EUR 135m (EUR 100,000 per bond)
Maturity: 5 years
Background: Incentivized conversion offer to holders of the EUR 135m 4.5% convertible bonds due 2023
Berenberg role: Sole Global Coordinator & Sole Advisor
Syndicate: Berenberg
Timing:

• September-October 2020

Glaukos Corp is an ophthalmic medical-technology company and pharmaceutical company, which focuses on novel therapies for the treatment of glaucoma, corneal disorders and retinal diseases. The company engages in the development and commercialization of therapies across several end markets within ophthalmology.

Ticker: GKOS US
Country: United States
Sector: Medical-Technology
Listing: New York Stock Exchange

Market Cap pre Transaction: c. USD 1,909m
Offer Structure: Rule 144a Convertible Notes Offering. $250,000,000 Total Deal Value
Coupon %: 2.75

Conversion Premium: 30.00

Conversion Price: USD 56.10 per note

Use of Proceeds: Working Capital and General Corporate Purposes

Berenberg Role: Co-Manager

Timing:

• Launch: 8 June 2020
• Pricing: 8 June 2020
• Maturity Date: 15 June 2027

Ticker: TNDM US
Country: United States
Sector: Medical-Technology
Listing: NASDAQ

Market Cap pre Transaction: c. USD 5,204m
Offer Structure: Rule 144a Convertible Notes Offering. $287,500,000 Total Deal Value
Coupon %: 1.50

Conversion Premium: 30.00

Conversion Price: USD 112.57 per note

Use of Proceeds: Working Capital and General Corporate Purposes

Berenberg Role: Co-Manager

Timing:

• Launch: 12 May 2020
• Pricing: 13 May 2020
• Maturity Date: 1 May 2025

HelloFresh provides online food services. The Company offers a subscription service in which customers receive a weekly box of recipes and meal ideas. HelloFresh also provides ice packs, plastic packaging, meat packing, insulation materials, and other related products.

Issuer: HelloFresh SE
Ticker: HFG GY
Country: Germany
Sector: E-Commerce
Offer size: EUR 175m (EUR 100,000 per bond)

Coupon range: 0.750%-1.250% (s.a.)
Conversion premium range: 32.50%-37.50%
Issue price: 100% of the principal amount
Maturity: 5 years
Final pricing terms: 0.750% coupon, 40.0% conversion premium
Use of proceeds: Support the Issuer’s continued growth strategy, including further capacity expansion, and for general working capital purposes.

Berenberg role: Co-Lead Manager
Syndicate: Berenberg, J.P. Morgan, BNP Paribas, Deutsche Bank, Rabobank

Timing:

• Launch of ABB: 05 May 2020
• Pricing date: 06 May 2020