Latham & Watkins Advises on New Financing for Hippocrates Holding

Latham & Watkins has advised the pool of institutional investors and Italian and international banks on the new financing for Hippocrates Holding, an Antin portfolio company and the leading Italian pharmaceutical retail group with over 500 pharmacies under the proprietary brand Lafarmacia.

The financing transaction, aimed at raising new resources to support the next phase of the group’s growth, contemplates the amendment, increase, and extension of the original financing agreements signed in December 2022, including through the issuance of new notes, as well as access to a new €350 million credit facility with consequent increase of the value of the overall financing transaction to over €1.25 billion.

The Latham team was led by London partners Conrad Andersen and Seonaid Todisco, with London associates Evan Whyte, Pete Ma, and Jason Lin. Advice was also provided on Italian finance matters by Milan partners Marcello Bragliani and Antongiulio Scialpi, with associates Nicola Nocerino and Nicola Dall'Acqua; and on debt capital markets matters by Milan associate Marco Bonasso.

The pool of institutional investors and Italian and international banks includes, among others: certain funds represented by BNP Paribas Asset Management Europe, Edmond De Rothschild, Rivage, Anima Alternative SGR, Intesa Sanpaolo S.p.A., Natixis S.A., Milan Branch, Banco BPM S.p.A., Banca Ifis S.p.A., Crédit Agricole Corporate and Investment Bank, Milan Branch, Goldman Sachs Bank Europe SE, Kommunalkredit Austria AG, Banque Nomura France, Société Générale, Milan Branch, and BPER Banca S.p.A..