Advestra advises Galderma on its inaugural EUR 500 Million bonds and its Dual Tranche of CHF 435 Million bonds

Gal­derma suc­cess­fully tapped the EUR mar­ket for the first time by pla­cing EUR 500 mil­lion bonds due 2030 with a coupon of 3.500%. The bonds were issued by Gal­derma Fin­ance Europe B.V. and guar­an­teed by Gal­derma Group AG. The bank­ing syn­dic­ate con­sisted of BNP PARI­BAS, Mizuho, J.P. Mor­gan and Sant­and­er Cor­por­ate & Invest­ment Bank­ing as act­ive joint book­run­ners and Com­merzbank, ING and RBC Cap­it­al Mar­kets as pass­ive joint bookrunners.

In addi­tion, Gal­derma suc­cess­fully issued CHF bonds in two tranches. The first tranche has an aggreg­ate prin­cip­al amount of CHF 190 mil­lion, a coupon of 1.4025% and will mature in 2029, the second tranche was issued in the aggreg­ate prin­cip­al amount of CHF 245 mil­lion with a coupon of 1.8098% and a matur­ity date of 2033. Both tranches were guar­an­teed by Gal­derma Group AG, while Gal­derma Hold­ing AG acted as issuer. BNP Pari­bas (Suisse) SA and UBS acted as joint lead man­agers in this transaction.

Advestra acted as leg­al coun­sel to Gal­derma in this trans­ac­tion. The team included Annette Weber, Valérie Bayard, Mar­iëlle van Nim­we­gen and Jana Wild­ber­ger (all Cap­it­al Mar­kets) as well as Céline Mar­tin (Tax).