Dechert and BPV Huegel have advised Valneva Austria GmbH, Vienna, on debt financing it received from the US-based Deerfield and OrbiMed healthcare funds. Dorda advised the lenders.
According to BPV Huegel, “the transaction includes an initial fixed rate straight debt of USD 60 million and flexible terms that allow the company to draw down an additional USD 25 million of capital upon similar terms in the next 12 months. Completion took place in the beginning of March and included the perfection of liens and pledges over the main assets of Valneva Austria and subsidiaries of the Valneva Group.”
Valneva SE is a biotech company developing and commercializing vaccines for infectious diseases. The company operates in Austria, Sweden, the United Kingdom, France, Canada, and the United States.
BPV Huegel's team was led by Partners Stefan Gaug and Elke Napokoj and included Partners Gerald Schachner and Sonja Duerager, Senior Associate Nicolas Wolski, and Associate David Pukel.
Dechert's team included New York-based Partner Samantha Koplik, Associates Dienna Corrado and Matthew Celentano, and Law Clerk Leila Malek, as well as DC-based Partner David Schulman.
Dorda's team included Partner Tibor Varga and Associate Markus Aigner.