Homburger advised ADC Therapeutics SA on USD 115 m credit facility for secured convertible loans with Deerfield

On April 24, 2020, ADC Therapeutics SA (NYSE: ADCT) entered into a USD 115 m credit facility for senior secured convertible loans entered into with funds affiliated with Deerfield Management Company, L.P. On May 19, 2020, the initial disbursement of such convertible term loan in the amount of USD 65 m successfully took place. ADCT is a late clinical-stage oncology-focused biotechnology company headquartered in the Lausanne area that went public on the New York Stock Exchange on May 15, 2020.

The Homburger team was led by partner Dieter Gericke (Corporate / M&A) and included partners Benjamin Leisinger (Financing and Investment Products) and Stefan Oesterhelt (Tax) as well as associates Daniel Häusermann, Anna Peter, Estelle Piccard (all Corporate / M&A), Alessandra Mengotti and Pierina Janett-Seiler (both Financing and Investment Products).