Ipsen Supports Growth Strategy with €500 Million Bond and Renewed Credit Facility
Deal News | Mar 28, 2025 | White & Case LLP
Global law firm White & Case LLP played a pivotal advisory role for multiple banking syndicates supporting Ipsen's financial restructuring. This involved Ipsen's debut €500 million bond issuance, set to mature in 2032 at an interest rate of 3.875%, with proceeds aimed at enhancing corporate operations and product development. Bonds were launched with the banks BNP Paribas and Société Générale as global coordinators plus several others as joint bookrunners. Alongside, White & Case also guided a broader coalition of banks, including BNP Paribas and HSBC, in renewing Ipsen's €1.5 billion syndicated Revolving Credit Facility, extending Ipsen's debt maturity profile significantly. Directed by partners such as Thomas Le Vert and Raphael Richard, this financial initiative positions Ipsen, a leader in biopharmaceuticals focused on oncology, rare diseases, and neuroscience, solidly for future strategic and operational advancements.
Sectors
- Biopharmaceutical
- Corporate Finance
- Legal Advisory
- Banking
Geography
- France – Ipsen is a French company and the transactions were largely coordinated from Paris, emphasizing France’s role.
- Europe – Multiple European banks participated, and the bonds are traded on Euronext Paris, reflecting Europe's involvement.
Industry
- Biopharmaceutical – Ipsen operates within the biopharmaceutical industry, focusing on therapeutic areas like oncology, rare diseases, and neuroscience.
- Corporate Finance – The article discusses Ipsen's financial structuring involving bonds and credit facilities, key elements of corporate finance.
- Legal Advisory – White & Case LLP's advisory role in the bond issuance and credit facility renewal underlines the legal industry’s involvement in complex financial deals.
- Banking – The banks involved in the syndicate and bond issuance illustrate the active role of banking in corporate refinancing and financial markets.
Financials
- €500 million – The size of Ipsen's bond issuance.
- 3.875% – The annual interest rate of Ipsen's bonds.
- €1.5 billion – The amount of Ipsen's renewed syndicated Revolving Credit Facility.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ipsen | Target | Company | A global biopharmaceutical firm focusing on oncology, rare diseases, and neuroscience. |
| White & Case LLP | Legal Advisor | Company | A global law firm advising on Ipsen's refinancing activities. |
| BNP Paribas | Global Coordinator and Joint Bookrunner | Company | A major bank involved in coordinating the bond issuance. |
| Société Générale | Global Coordinator and Joint Bookrunner | Company | Another leading bank involved in coordinating the bond issuance. |
| BofA Securities SA | Joint Bookrunner | Company | Bank of America’s financial services wing involved in the bond issuance. |
| Crédit Agricole Corporate and Investment Bank | Joint Bookrunner | Company | Part of the syndicate managing the bond issuance. |
| Crédit Industriel et Commercial S.A. | Joint Bookrunner | Company | One of the banks managing the bond issuance. |
| HSBC Continental Europe | Joint Bookrunner, Arranger and Lender | Company | European branch of HSBC involved in both bond issuance and credit facility. |
| Natixis | Joint Bookrunner, Arranger and Lender | Company | A French bank involved in the refinancing activities. |
| Crédit Lyonnais | Arranger and Lender | Company | Involved in the renewal of Ipsen's credit facility. |
| Bank of America Europe Designated Activity Company | Arranger and Lender | Company | Involved in the renewal of Ipsen's credit facility. |
| BRED Banque Populaire | Arranger and Lender | Company | Involved in the renewal of Ipsen's credit facility. |
| Wells Fargo Bank International U.C. | Arranger and Lender | Company | Involved in the renewal of Ipsen's credit facility. |