Deals & Cases

Homburger advised ADC Therapeutics SA on the USD 175 m Senior Secured Term Loan from Owl Rock and Oaktree and Settlement of Existing Senior Secured Convertible Notes

On August 15, 2022, ADC Therapeutics SA (NYSE:ADCT), a commercial-stage biotechnology company headquartered in Switzerland, announced that it has completed a series of strategic transactions in which it (a) entered into a new USD 175 m senior secured term loan with certain funds of Owl Rock and funds managed by Oaktree Capital, (b) settled in full the USD 115 m aggregate principal amount of senior secured convertible notes held by Deerfield Management Company due May 2025 for cash, common shares and warrants to purchase common shares, and (c) entered into a share purchase agreement with certain funds of Owl Rock for an investment of USD 6.25 m for 733,568 common shares.

The Homburger team was co-led by partners Benjamin Leisinger (Capital Markets, Financing and Investment Products) and Daniel Häusermann (Corporate / M&A, Capital Markets) and included partner Stefan Oesterhelt (Tax) as well as associates Laura Müller (Financing and Investment Products) and Estelle Piccard (Corporate / M&A, Capital Markets).