Global law firm Hogan Lovells Cadwalader has advised Merz Pharma Group on its first-ever Schuldschein loan issuance, placing a total volume of €450 million in the debt capital market – a multiple of three relating to the launch volume.
The transaction comprises both fixed- and floating-rate tranches with maturities of three, five, seven, and ten years. Around 50 German and international investors participated, representing a broad range of institutions, including private banks, German federal state-owned banks, public savings banks, cooperative banks, pension funds and occupational pension institutions.
With the successful placement, Merz has further diversified its funding base by complementing its existing syndicated financing arrangements with an additional source of long-term capital. The transaction also broadens the company’s investor base and enhances the diversification and resilience of its overall financing structure.
The debut transaction was significantly oversubscribed and attracted strong interest from all investor groups.
Hogan Lovells Cadwalader advised Merz Pharma Group on the legal aspects of the transaction. The Banking & Finance team was led by Frankfurt-based partner Dr. Katlen Blöcker.
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