August 4, 2022

Milbank Advises PharmaSGP on €135M Syndicated Debt Financing


Milbank LLP has advised PharmaSGP Group ("PharmaSGP") on a €135 million syndicated debt financing with a club of four banks.

The syndicated debt financing replaces an existing bridge financing in the amount of €85 million for the acquisition of OTC brands Baldriparan®, Formigran®, Spalt® and Kamol® from GlaxoSmithKline in 2021, establishing a long-term financing structure for the group. In addition, the new facilities provide further financing potential for PharmaSGP with a view to strengthening its European sales platform through future acquisitions.

PharmaSGP is a leading consumer health company with a diversified portfolio of over-the-counter pharmaceuticals and other healthcare products that are marketed with a focus on the pharmacy distribution channel. The group's products are mostly based on natural active pharmaceutical ingredients with documented efficacy and few known side effects.

The Milbank team that advised PharmaSGP on all finance aspects of the transaction was led by partner Thomas Ingenhoven and included associates Gerrit Merkel, Thomas Möller and Sebastian Trompler (all Finance, Frankfurt) as well as partner Thomas Kleinheisterkamp (Tax, Munich).