Noerr advises global pharmaceuticals company IDT Biologika on €140m syndicated credit facilities agreement

Noerr has advised IDT Biologika on a €140 million syndicated credit facilities agreement. The syndicated credit facilities agreement offers a term loan facility and a revolving credit facility for general corporate purposes of the pharmaceutical manufacturer.

With a five-year term and an extension option for up to two additional years, the new syndicated credit facilities agreement secures long-term financing for IDT Biologika. The revolving credit facility can also be increased by up to €35 million by an increase option.

The syndicated credit facilities agreement for IDT Biologika provides for a rendezvous clause for subsequently adding a sustainability feature. It is intended to add a provision to reduce the applicable margin depending on the achievement of certain ESG targets, which are still to be agreed.

IDT Biologika is a leading global contract developer and manufacturer (CDMO) of viral vaccines, viral vectors for gene and immune therapeutics, oncolytic viruses and protein-based vaccines and other biological products, offering end-to-end services to other pharmaceutical and biotech companies.

IDT Biologika is part of the KLOCKE GROUP, an association of companies involved in contract manufacturing and contract packaging. In 2021 the KLOCKE GROUP had around 2,000 employees.

Advisors to IDT Biologika: Noerr Partnerschaftsgesellschaft mbB

Sebastian Bock and Alexander Schilling (both partners, joint team lead), Martina Buller (senior associate) and Linh Hoang (associate, all in Finance, Frankfurt) 

Advisors to the lenders: CMS Hasche Sigle (Markus Pfaff, partner, and Felicitas Matthei, associate)