ADC Therapeutics entered int USD 115 m credit facility for secured convertible loans with Deerfield: the advisor

On April 24, 2020, ADC Therapeutics – 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 – entered into a USD 115 m credit facility for senior secured convertible loans entered into with funds affiliated with Deerfield Management Company. On May 19, 2020, the initial disbursement of such convertible term loan in the amount of USD 65 m took place.

The team

Homburger advised ADC Therapeutics on this transaction. The team was led by partner Dieter Gericke (corporate and m&a – pictured) and included partners Benjamin Leisinger (banking and finance) and Stefan Oesterhelt (tax) as well as associates Daniel Häusermann, Anna Peter, Estelle Piccard (corporate and m&a), Alessandra Mengotti and Pierina Janett-Seiler (both banking and finance).