The bank component of the financing involved a credit agreement providing for new senior secured credit facilities consisting of a USD1bn senior secured term loan “A” facility, a USD2bn senior secured term loan “B” facility and a USD500 million senior secured revolving credit facility. The bond piece consisted of Rule 144A/Regulation S offerings of USD1.5bn aggregated principal amount of 6.250% Senior Secured Notes due 2032 and USD1bn aggregated principal amount of 7.250% Senior Notes due 2033.
Genmab is an international biotechnology company dedicated to improving the lives of people with cancer and other serious diseases through innovative antibody medicines. For over 25 years, its passionate, innovative and collaborative team has advanced a broad range of antibody-based therapeutic formats, including bispecific antibodies, antibody-drug conjugates, immune-modulating antibodies and other next-generation modalities. Genmab’s science powers eight approved antibody medicines, and the company is advancing a strong late-stage clinical pipeline, including wholly owned programs, with the goal of delivering transformative medicines to patients.
The A&O Shearman team was led by partners Harald Halbhuber (New York, capital markets), Michael Chernick (New York, debt finance) and Ryan Robski (Toronto/New York, capital markets), and associates Katya Bogdanov (Toronto/New York, capital markets), Ilya Mamin, Joe Tambasco (both New York, capital markets), Nick Slagter and Jahanvi Pandit (both Toronto/New York, capital markets) and Penelope Yan, Becky Hval, Jordan Tan (all New York, debt finance).
Other A&O Shearman lawyers involved in the transaction include partners Derrick Lott and Clare O’Brien (both New York, M&A), Larry Crouch (Silicon Valley, tax), Matthew Brown (Washington D.C., tax), Niels de Ru (Amsterdam, debt finance), Godfried Kinnegim and Rens Bondrager (both Amsterdam, tax), and associates Katherine Teng and Jake Shaughnessy (both New York, M&A), Daniel Kachmar and Brandon Fawbush (Washington D.C., tax), Joy Kloosterman (Amsterdam, tax), Sophia Evenhuis and Michaël Guenneguez (both Amsterdam, global financial markets), Mercedeh Naseri (Amsterdam, debt finance), Sy Ro (New York, funds) and Stephanie Li (Washington D.C., funds).