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Wednesday, April 17, 2024

Freshfields advises Werfen on €500m senior bonds

Freshfields has advised worldwide leader in specialised diagnostics Werfen, S.A., on the successful issue of a five-year senior bond for €500 million. The banks acting as joint lead managers on the transaction were advised by Linklaters

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The bond was issued in the context of Werfen’s recent acquisition of the US leader in the transfusion and transplant sectors, Immucor. The bonds are listed on the regulated market of Euronext Dublin.

This is the first bond issue under Werfen’s Euro Medium Term Notes (EMTN) programme, which was established by the company in April 2023 and which represents a strategic milestone for Werfen, enabling it to consolidate its presence in the international capital markets and increase its financial flexibility. In October 2021, Werfen tapped the bond market for the very first time with a successful standalone issue of €300 million. Freshfields also advised Werfen on its debut issue in 2021 and on the establishment of its EMTN programme.

The Freshfields team was led by counsel Joe Amann, with the support of senior associate Chelsey Kaka, associate Javier González Egaña and trainee solicitor Chloe Clavell. The banks acting as joint lead managers on the transaction were advised by Linklaters.

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