Ogier advises leading global investment firm on strategic private credit financing

Ogier's Banking and Finance and Corporate teams in Guernsey have advised leading global investment firm Sixth Street in connection with its new strategic financing with Essential Pharma in the rapidly expanding private credit sector. 

Sixth Street has more than $80 billion in assets under management and committed capital. Essential Pharma is a global pharmaceutical company focused on acquiring and developing medicines in areas of high unmet medical need, particularly in rare and speciality diseases.

The facility includes €300 million in structured equity and growth debt and is part of Essential Pharma's completion of a €900 million recapitalisation. This transaction will allow Essential Pharma to expand its diversified portfolio and advance its late-stage pipeline of both established and rare disease treatments.

The Ogier Banking and Finance team was led by partner Paul Chanter, assisted by managing associate Matthew Macfarlane, senior associate Jonathan Branch, associate Osahon Omoruyi and English trainee solicitor Samuel Clarke. Ogier's Guernsey Corporate team was led by partner Tim Clipstone, assisted by managing associate Andrew Grant and associate Antoaneta Shikerova. Ogier worked with lead counsel Proskauer on the deal.

Paul Chanter said: "It was, as always, a true pleasure collaborating with the Proskauer team to support our client on this significant transaction.  This transaction spotlights Ogier's ability to leverage our interdisciplinary expertise to advise on diverse and complex issues."

Tim Clipstone said: "We are delighted to have been able to advise Sixth Street alongside the Proskauer team, and our Banking and Finance colleagues here in Guernsey. We have, once again, demonstrated the strength of our full-service corporate and private equity offering in a transaction that required technical, to the point advice".