Bredin Prat advises EUROAPI in connection with the financing of its strategic plan

Bredin Prat is advising EUROAPI, a group specialised in the development and manufacture of active pharmaceutical ingredients for healthcare industries, as it completes and secures the financing of its FOCUS-27 strategic plan.

EUROAPI and its banking syndicate (BNP Paribas, Bank of America, JP Morgan, Crédit Agricole CIB, Société Générale, Deutsche Bank and Natixis) have signed a new secured €451 million revolving credit facility, refinancing the existing revolving facility, with a maturity extended to February 2029.

Sanofi is supporting the implementation of the FOCUS-27 plan through an investment of €200 million in a Perpetual Deeply Subordinated Hybrid Bond issued by Euroapi carrying a coupon of 8.113% until the first reset date, scheduled for February 2029.

Closing of these transactions will end the Company’s collaboration with the ad hoc administrator appointed in June 2024.

The Bredin Prat team advising EUROAPI is as follows:

• Financing: Samuel Pariente (partner), Delphine Guillotte (counsel), Jessim Djama, Julie Jacquemoud
• Corporate: Olivier Saba and Benjamin Kanovitch (partners), Thierry Nkiliyehe
• Restructuring: Olivier Puech (partner), Clément Auvray
• Tax: Anne Robert (partner), Pauline Meyrueis