Harneys advises on US$120 million secured term loan financing for Adium Ltd

The Harneys team was led by Partner Josh Mangeot, with support from Associate Priya Mattu. Mitrani, Caballero & Ruiz Moreno acted as international counsel. Josh commented: “We were delighted to assist our long-standing client Adium Pharma and the Mitrani team with this significant syndicated facility arranged by Banco Itaú and congratulate them on another successful closing.”

The transaction became effective on 18 June 2024, with the first loan disbursement completed on 24 June 2024. The loan proceeds will be used for repaying existing debt, capital expenditures, and working capital.

The Adium group stands as a prominent pharmaceutical enterprise in Latin America, boasting nearly 50 years of expertise and a presence in 18 countries across the region. The company specialises in the manufacturing, packaging, distribution, and commercialisation of pharmaceutical products, providing innovative and quality treatments to physicians and patients. Its commercial portfolio includes its own brand generics and innovative pharmaceutical products under license in the fields of oncology, rheumatology, pain management, urology, women’s health, neurology, cardiology, and gastroenterology.

The team of corporate and finance lawyers at Harneys have strong networks with industry players and service providers in key markets around the world and understand the business environment in which their clients operate. The team excels at complex cross-border transactions involving Bermuda, British Virgin Islands, Cayman Islands, Cyprus and Luxembourg vehicles.