Increase of Cheplapharm’s €1.29 Billion Credit Lines

White & Case LLP has advised a bank syndicate on a €1.29 billion increase and amendment of the credit lines for Cheplapharm Arzneimittel GmbH (Cheplapharm).

The transaction comprises a €980 million Term Loan B cov-lite facility and a €310 million revolving credit facility.

Deutsche Bank AG, London Branch, HSBC Bank plc and UniCredit Bank AG acted as joint global coordinators, physical bookrunners and mandated lead arrangers. J.P. Morgan Securities plc acted as passive bookrunner. Commerzbank Aktiengesellschaft, DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main and Santander Consumer Bank AG acted as mandated lead arrangers. Deutsche Bank Luxembourg S.A. acted as security agent and facility agent.

Founded in 1998 and headquartered in Greifswald, Germany, Cheplapharm is a family-run pharmaceutical company which sells brand-name products worldwide. It has a unique position in various active ingredient markets and various dosage forms and has more than 800 market approvals in over 100 countries worldwide.

The White & Case team in Frankfurt which advised on the transaction was led by partner Vanessa Schürmann (Picture) and included local partner Andreas Lischka, partners Florian Ziegler and Bodo Bender, counsel Alexander Born, associates Daniel Rogits and Yasaman Zargar and senior transaction lawyer Alexander Hansen Diaz.

Involved fees earner: Bodo Bender – White & Case; Alexander Born – White & Case; Andreas Lischka – White & Case; Daniel Rogits – White & Case; Vanessa Schürmann – White & Case; Yasaman Zargar – White & Case; Florian Ziegler – White & Case;

Law Firms: White & Case;

Clients: Commerzbank AG; Deutsche Bank AG London Branch; DZ BANK AG; Hsbc Bank plc; JP Morgan Securities; Santander Consumer Bank AG; UniCredit Bank AG;