Uniphar PLC has entered a new banking syndicate with a total capacity of US$601 million

August 2022 — Irish-listed healthcare group Uniphar PLC has expanded its banking facilities to support its international growth plans. The total committed facilities came to US$440 million, with an additional accordion to increase capacity by a further US$160 million. The transaction involved Uniphar returning to its existing banking syndicate of Bank of Ireland, AIB, HSBC and RBC, while adding three new international banks—Barclays, ING and Citizens—to complete a full refinancing of the company’s facilities.

Uniphar is a global partner to pharmaceutical and medtech manufacturers working to improve patient access to medicines in Europe and around the world. It provides outsourced and specialized services to its clients and leverages strong relationships with over 200 of the world’s best-known pharmaco-medical manufacturers in multiple geographies. Uniphar operates across three core divisions: pharmaceuticals—a global business providing on-demand and medicine-sourcing solutions along with outsourced specialist services to pharmaceutical manufacturers; medtech—a leading European medical device distributor with a presence in 21 markets; and supply chain and retail—a market leader in Ireland with around 50% of the wholesale market and four nationwide pharmacy symbol groups. Uniphar is listed on the LSE and Euronext Dublin.

Our role in the transaction

Oaklins’ team in Ireland acted as the exclusive debt advisor to Uniphar in this transaction, assisting in all aspects, from initiating the refinancing and leading interactions with multiple domestic and international banks, to structuring and negotiating premium terms. This deal complements a long list of advisory services the team has provided to Uniphar.