Baker McKenzie Advises HSBC on Parnell Pharmaceutical’s AUD 110,000,000 Noble Pharma Acquisition Financing

Baker McKenzie has advised The Hong Kong and Shanghai Banking Corporation Limited as mandated lead arranger and bookrunner with regard to a AUD 110,000,000 financing provided to Parnell Pharmaceuticals Holdings Pty Ltd (“Parnell”), an affiliate of DW Healthcare Partners (“DWHP”), in connection with the acquisition of Noble Pharma, LLC (“Noble Pharma”). The facilities, which refinanced certain of Parnell’s existing indebtedness in addition to funding the acquisition, consisted of redrawable and conventional term debt, together with a redrawable term multioption working capital and capex facility.

Founded in 2018 in Menomonie, Wisconsin, Noble Pharma is a leading contract development and manufacturing organisation for pharmaceutical products headquartered in Menomonie, Wisconsin, specialising in the development and manufacture of veterinary pharmaceuticals. Parnell is a commercial-stage pharmaceutical company, focuses on developing, manufacturing, and marketing animal pharmaceutical products worldwide with an emphasis on the US market. DWHP is a private equity firm focused exclusively on the healthcare industry, managing over USD 1.43 billion in aggregate capital commitments and investing in leading healthcare companies with proven management teams.

Baker McKenzie’s leveraged finance team was led by partner Hamish McCormack and associates Leandros Pandoulis and Stephanie Vesel. All members of the Baker McKenzie team are based in the Firm’s Australian offices.