Plesner acts for Lundbeck on DKK 13.2bn credit facilities

Plesner has acted for pharmaceuticals company H. Lundbeck A/S on two recent credit facilities with an aggregate amount of approximately DKK 13.2bn. Part of the facilities will be applied to finance Lundbeck's acquisition of US biopharmaceuticals company Alder BioPharmaceuticals Inc. announced on 16 September 2019.

The credit facilities consist of a EUR 1.5bn revolving credit facility for general corporate purposes (including business acquisitions) and a DKK 2bn term loan facility specifically for the Alder BioPharmaceuticals acquisition. Both facilities have been provided by consortia of Nordic and global banking institutions.

In addition to attractive pricing, each facility offers Lundbeck a first in class degree of operational flexibility with limited covenants.

Lundbeck is a global pharmaceutical company engaged in the research, development, manufacturing, marketing and sale of pharmaceuticals across the world. The company’s products are targeted at the disease areas within psychiatry and neurology. Lundbeck employs approximately 5,000 people in more than 50 countries and generated a revenue of DKK 18.1bn in 2018.

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