Different firms act on Grünenthal credit extension
Different firms have advised on the amendment of Grünenthal’s euro-denominated credit facility, extending it by up to €600 million (approx. US$635 million), among other amendments.
This transaction was completed in November and involved the jurisdictions of Germany, Chile and England. Carey has advised Grünenthal and its Chilean subsidiary, Labotarios Andrómaco, on Chilean law aspects; while Freshfields Bruckhaus Deringer has advised Grünenthal internationally; and Claro y Cía advised the borrowers.
In addition, Ritch Mueller advised Commerzbank Aktiengesellschaft, as agent, on the incorporation of Grünenthal de México as additional guarantor of the facility. Creel García-Cuellar Aiza y Enriquez advised Grünenthal de Mexico.
Carey also advised Grünenthal and Laboratorios Andrómaco on the Chilean law aspects of the issuance of an approximately USD $526 million (€500 million) bond issued under Rule 144A of the US Securities Act.
This second transaction, closed on 6 December, involved the jurisdictions of Germany, Chile and England. In this transaction Latham & Watkins advised Grünenthal, while Claro y Cía advised the purchasers.
Sabine König acted as in-house counsel to Grünenthal for both transactions, with additional support from Daniela Hirsch Vergara for the credit modification and Victoria Arellano for the issuance. Victoria Arellano Villaseca also provided in-house counsel to Andrómaco.
Carey’s team was led by partner Felipe Moro (pictured left) and associate Loreto Ribera, who assisted on both transactions, while associate Tomás Águila also assisted on the first transaction.
Ritch Mueller’s team included partner Gabriel del Valle Mendiola (pictured centre) and counsel Rodrigo Carreras Valle.
Claro y Cía’s team for both transactions included partner Matías de Marchena, and associates Fernando de Castro and Felipe Pérez.
Freshfields’ team comprised counsel Alexander Pospisil, and associates Pauline Hoeller and Michael Josenhan.
Latham Watkins’ team was represented by associates Peter Neuböck, Benjamin Rudolph and Laura Neumann.
