Redcare Pharmacy slumps after bond placement, repurchase
09/04/2025 08:52
** Shares of Germany-listed Redcare Pharmacy RDC.DE fall more than 15%, on track for their worst day in nearly three years, after it said on Tuesday it had placed a new bond and bought back some convertible bonds ** It places a new convertible bond of 300 million euros ($331.68 million) and buys back part of the outstanding 225 million euro convertible bonds ** "Seems strongly overdone but surely owed to current market environment," a local trader said about the 8% after-hours drop in Redcare's shares following the news ** Shares of European pharmaceutical companies fall across the board on Wednesday after U.S. President Donald Trump said he would announce tariffs on the sector soon ($1 = 0.9045 euros) (Reporting by Marleen Kaesebier) ((marleen.kaesebier@thomsonreuters.com))