Lenz & Staehelin advises ObsEva in convertible debt financing  

ObsEva, a clinical-stage biopharmaceutical company, has entered into a convertible note financing agreement with certain funds and accounts managed by JGB Management, an alternative asset management firm focused on investing in niche credit-oriented situations. 

The agreement is structured to provide up to USD 135 million in borrowing capacity, available in nine tranches. In connection with each tranche, ObsEva will also issue warrants to purchase its common shares. 

Lenz & Staehelin advised ObsEva in this transaction. The team was led by partner Jacques Iffland (corporate and capital markets, pictured) and included associate Ariel Ben Hattar (corporate and capital markets) and associate Clément Bouvier (corporate and financing).