White & Case LLP has advised a bank syndicate on the €780 million refinancing of Cheplapharm Arzneimittel GmbH (Cheplapharm).
The transaction is comprised of a term loan B cov-light facility of €530 million with a seven-year term, and a revolving loan of €250 million with a six-year term.
Deutsche Bank AG, London Branch, HSBC Bank plc and UniCredit Bank AG acted as lead arrangers and bookrunners. 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-owned pharmaceutical company which sells branded 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 Schuermann (Picture) and included local partners Florian Ziegler and Sébastien Seele and associates Daniel Rogits and Lisa Kirchner.
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