Kirkland Advises Bain Capital and Cinven on Debt Financing for Stada Takeover

Kirkland & Ellis advised Nidda Healthcare Holding AG and Nidda BondCo GmbH, companies owned by private equity funds Bain Capital and Cinven, in connection with €3.175 billion of syndicated debt financing for Bain Capital’s and Cinven’s takeover of German generic pharmaceutical group STADA Arzneimittel AG. The debt financing consisted of €1.7 billion of term loans, €1.075 billion of high yield bonds and a €400 million revolving credit facility. With a total value of €5.4 billion, the STADA acquisition is one of the largest private equity take-private transactions ever in Germany.

The Kirkland team was led, in London, by capital markets partner Matthew Merkle and finance partner Neel Sachdev, together with partner Daniel Borg and associates Michael Taufner, Lloyd Jones, Stefan Arnold-Soulby and Evgeny Scirto-Ostrovskiy. The Munich-based finance team consisted of partners Anna Schwander and Wolfgang Nardi and associates Isabel Ruttloff and Katharina Hohmann.