Simpson Thacher is representing Bank of America, N.A., as administrative agent and lender, and Banco Bilbao Vizcaya Argentaria, Chile, Banco Santander – Chile, Bancolombia (Panama), S.A., and Bancolombia S.A., as lenders, in connection with $600 million in bridge financing for CFR Pharmaceuticals S.A.’s proposed 12.6 billion South African rand (US$1.2 billion) acquisition in cash and equity of Adcock Ingram Holdings Limited.
Headquartered in Chile, CFR is Chile’s largest drug developer and a leading Latin American pharmaceutical company with operations in 15 countries across the region and certain other emerging markets. CFR focuses on the development, production and sale of branded specialty pharmaceutical products, complex therapeutics, and over-the-counter products. Adcock Ingram is a leading South African pharmaceutical company and supplier of hospital and critical care products.
The Simpson Thacher team for this transaction included Alan Brenner, Matthew Farrell and Tamaron Greene (Banking and Credit); Juan Francisco Mendez and Juan M. Naveira (Capital Markets); Chang Won Choi (Tax); Michael Isby (Environmental); and Jamin Koslowe (Executive Compensation and Employee Benefits).