Shearman And Sterling

News March 27, 2014

Shearman & Sterling Represents Almirall, S.A. on €325 Million Inaugural Bond Offering

Shearman & Sterling represented Almirall, S.A. (“Almirall”) on its inaugural High Yield bond offering of €325 million 4.625% Senior Notes due 2021 (the "Notes"). The Notes are guaranteed on a senior unsecured basis by certain of Almirall's subsidiaries. The offering, which was conducted pursuant to Rule 144A and Regulation S under the US Securities Act, closed on March 27, 2014. The net proceeds from the issue and sale of the Notes are to be used to repay certain loan facilities and for general corporate purposes.

Almirall, headquartered in Barcelona, Spain, is a leading pharmaceutical company engaged in the research and development, manufacturing and commercialization of pharmaceutical products, primarily for respiratory and dermatological diseases but also for pain relief and gastrointestinal and other diseases.

The Shearman & Sterling team of lawyers was led by Capital Markets partner Jacques McChesney, who was assisted by counsel Paul Clews and associates Kara Major and Lulu Zhou. Partner Kristen Garry and associate Mary Jo Lang advised on Tax matters. Environmental counsel Mehran Massih, associates Cecilia Ferreira and Rainer Adlhart and paralegal Francesca Minoretti also provided assistance on the transaction.