InRetail Pharma S.A.’s $500 Million Notes Offering


Shearman & Sterling, Payet, Rey, Cauvi, Pérez, Simpson Thacher & Bartlett and Garrigues advised on the transaction

InRetail Pharma S.A. executed its (i) Rule 144A and Regulation S offering of US$400 million aggregate principal amount of its 5.375% senior notes due 2023 and (ii) Regulation S offering of S/385,800,000 aggregate principal amount of its 6.4375% senior notes due 2025. The Company plans to use the net proceeds from the offerings to partially pay the bridge loan with which it financed the acquisition of Quicorp S.A.

Citigroup Global Markets Limited, J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC acted as underwriters on the offering.

The Company is a leading pharmaceutical platform in the Andean region, with the largest retail pharmacy operation in Peru and one of the largest distribution networks in the Andean region. It operates throughout the pharmaceutical value chain, focusing on retail pharmacies and pharmaceutical distribution and marketing businesses. It also manufactures certain pharmaceutical products.

Shearman & Sterling advised InRetail Perú Corp. with Antonia Stolper (Picture) Denise M. Grant, Alejandro A. Gordano, Jeffrey Tate, Robert Powel, Devon Yamamauchi and Blanca García.

Payet, Rey, Cauvi, Pérez Abogados advised InRetail Perú Corp. with José Cúneo, Vanessa Watanabe, Alan García Nores, José Dedios and Camila Mariátegui.

Simpson Thacher & Bartlett advised Citigroup Global Markets Limited, J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC with Juan Francisco Méndez, Jonathan Cantor, Joshua Bernard and Mariano Peró.

In Perù, Garrigues advised Citigroup Global Markets Limited, J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC with Sergio Amiel, Diego Harman, María Paz Delgado and Ian Forsyth.

Involved fees earner: Vanessa Watanabe – Payet, Rey, Cauvi, Pérez, Mur; José Cúneo Galdós – Payet, Rey, Cauvi, Pérez, Mur; Alan García Nores – Payet, Rey, Cauvi, Pérez, Mur; José Manuel Dedios – Payet, Rey, Cauvi, Pérez, Mur; Juan Francisco Mendez – Simpson Thacher & Bartlett; Joshua Bernard – Simpson Thacher & Bartlett; Mariano Peró – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Sergio Amiel – Garrigues; Diego Harman – Garrigues; Antonia Stolper – Shearman & Sterling; Alejandro Gordano – Shearman & Sterling; Robert Powel – Shearman & Sterling; Denise Grant – Shearman & Sterling; Jeffrey Tate – Shearman & Sterling; Devon Yamauchi – Shearman & Sterling;

Law Firms: Payet, Rey, Cauvi, Pérez, Mur; Simpson Thacher & Bartlett; Garrigues; Shearman & Sterling;

Clients: Citigroup Global Markets Ltd; Credit Suisse Securities Limited; JP Morgan Securities; InRetail Peru Corp.; InRetail Pharma SA;

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