A&O advises on first ever SONIA issued leveraged loan
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Allen & Overy has advised Ethypharm, a PAI portfolio company, on the refinancing of its existing senior facilities and PIK notes. Ethypharm is a specialty pharmaceutical company active in the central nervous system and critical care areas with leading positions in pain and addiction treatments.
This transaction represents the first ever Sterling Overnight Index Average (SONIA) issued syndicated leveraged loan in the market as sterling loans issued from 1 April 2021 are no longer permitted to reference GBP LIBOR.
The multijurisdictional team was led, in London by partners Neil Sinha and Adam Zecharia, along with Peerpoint consultant Nihaal Khanna and associate Giacomo Geronico Orlandi; and, in Paris, by partner Adrian Mellor along with associate Zineb Bennis.