International law firm Clifford Chance has advised the Siemens Group on a EUR15.2 bn bridge financing underwritten by JPMorgan Chase and UBS in connection with the acquisition of the US listed firm Varian Medical Systems, Inc. It is primarily intended that the purchase price will be funded by way of bonds and a capital increase of Siemens Healthineers. The financing is supported by the EUR15.2 bn bridge financing to increase transaction security and give Siemens additional flexibility on the envisaged bond issue and capital increase.
Clifford Chance regularly advises banks or borrowers on the financing of (public and non-public) US takeovers by German corporates, including Bayer/Monsanto, ZF Friedrichshafen/Wabco or Symrise/ADF/IDF.
The Siemens in-house legal team in relation to the bridge financing was led by Claudia Emmert und Henriette Koegel.
The Clifford Chance team advising Siemens comprised partner Bettina Steinhauer, senior associate Christoph Nensa and associate Nico Köhler (all Frankfurt Acquisition Finance).
