Advanz Pharma Secures High-Yield Bond Offering with Paul Hastings' Guidance
Deal News | Apr 14, 2025 | Paul Hastings
Paul Hastings LLP played a crucial advisory role in a major financing arrangement involving Advanz Pharma, a portfolio company of the private equity firm Nordic Capital. The law firm advised a syndicate of initial purchasers, led by Goldman Sachs Bank Europe SE and J.P. Morgan Securities plc, in relation to an offering of 615 million euros in 7% Senior Secured Notes due 2031 and an additional 250 million euros in 9% Senior Secured Notes due 2031. Additionally, Paul Hastings supported the structuring of a 165 million euro term loan facility. Strategic roles within this transaction were filled by several high-profile financial institutions, including Barclays and Morgan Stanley. The transaction was managed by partners Ross Anderson and Ed Holmes from Paul Hasting's London team, with significant contributions from their Frankfurt office.
Sectors
- Pharmaceuticals
- Private Equity
- Financial Services
- Legal Services
Geography
- Europe – The main players, including financial institutions and law firms, are all based in Europe. Advanz Pharma's offerings were handled by European branches of financial services firms.
Industry
- Pharmaceuticals – The transaction involves Advanz Pharma, an international specialty pharmaceutical company.
- Private Equity – Advanz Pharma is a portfolio company of Nordic Capital, a private equity firm.
- Financial Services – Various financial institutions, including Goldman Sachs and J.P. Morgan, are involved in the financial structuring and advising within this transaction.
- Legal Services – Paul Hastings LLP provided legal advisory services for this transaction.
Financials
- 615 million – Aggregate principal amount of 7% Senior Secured Notes due 2031.
- 250 million – Aggregate principal amount of 9% Senior Secured Notes due 2031.
- 165 million – Additional term loan facility.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Advanz Pharma | Target | Company | An international specialty pharmaceutical company and a portfolio company of Nordic Capital. |
| Nordic Capital | Private Equity Firm | Company | A private equity firm that manages Advanz Pharma as part of its portfolio. |
| Paul Hastings LLP | Legal Advisor | Company | A law firm providing advisory services for this financing operation. |
| Goldman Sachs Bank Europe SE | Financial Institution | Company | Acted as lead in the group of initial purchasers and Joint Physical Bookrunner. |
| J.P. Morgan Securities plc | Financial Institution | Company | Acted as part of the syndicate of initial purchasers. |
| Barclays Bank PLC | Financial Institution | Company | Involved as part of the syndicate of initial purchasers and Joint Bookrunners. |
| Intesa Sanpaolo S.p.A. | Financial Institution | Company | Acted as part of the syndicate of initial purchasers and Joint Bookrunners. |
| Jefferies GmbH | Financial Institution | Company | Involved as part of the syndicate of initial purchasers. |
| Morgan Stanley & Co. International plc | Financial Institution | Company | Part of the syndicate of initial purchasers. |
| RBC Europe Limited | Financial Institution | Company | Part of the syndicate of initial purchasers. |
| Royal Bank of Canada | Financial Institution | Company | Part of the Joint Mandated Lead Arrangers and Joint Bookrunners. |