Debevoise Advises CD&R, Huntsworth and Sharp in Obtaining $787.5 Million in Debt Financing in Connection with Huntsworth’s Spin-off of Sharp

20 January 2022

Debevoise & Plimpton LLP has advised Clayton Dubilier & Rice, Huntsworth and Sharp in obtaining $787.5 million in debt financing in connection with Huntsworth’s spin-off of Sharp. The financing consisted of a $465 million First Lien Term Loan Facility, a $90 million First Lien Revolving Facility and a $157.5 million Second Lien Term Loan Facility. In addition, Huntsworth raised $75 million of incremental debt under its existing Second Lien Term Loan Facility.

Huntsworth is an international healthcare and communications group that provides pharmaceutical and biotechnology companies a range of services, including strategic counsel, medical affairs, market access and stakeholder engagement and marketing.

Sharp offers solutions and support to pharmaceutical and biotechnology companies as a global leader in advanced clinical supply chain services and contract pharmaceutical packaging.

The Debevoise team was led by partner Jeffrey Ross and included associates Brett Novick, Lachlan Conroy, Mihai Chitulescu, Richard Hughes, Tayonna Ngutter and Erick Wong. Partner Alan Davies and associates Alex Bell, Tereza Batlova and Scott Morrison advised on the UK law aspects.