Osborne Clarke advises Grifols, S.A. on the refinancing of its capital structure

International law firm Osborne Clarke has advised leading global healthcare group Grifols, S.A. and several of its group entities on the refinancing of its capital structure. This included repaying in full and cancelling its 2019 syndicated credit agreement and remaining senior notes due in 2027 and the partial redemption of its senior secured notes due in 2030.

Osborne Clarke led the cross-border transaction, which involved a Term Loan B (TLB) tranche of $2.0 billion and a TLB tranche of €1.25 billion, as well as a €1.75 billion Revolving Credit Facility (RCF), which was supported by an international syndicate of lenders and institutional investors.

Osborne Clarke acted as leading counsel coordinating the transaction, working with New York counsel Proskauer Rose LLP and Irish counsel Matheson LLP.

Grifols' successful refinancing showcases Osborne Clarke’s ability to deliver complex, cross‑border financings seamlessly across key European and US markets. Coordinating multi-jurisdictional workstreams is at the core of what we do and this transaction is a clear example of how our integrated international team helps clients execute strategically important deals.

Eduard Arruga, Partner, Osborne Clarke.

The cross-border Osborne Clarke team was led by partner and head of Banking and Finance Eduard Arruga, supported by counsel Victoria Bobo and senior associates Alejandra Ilarza and Pablo Lopez, all based in Spain. In Germany, the Banking team included partners Antje Günther and Olexiy Oleshchuk, with support from senior associate Arsen Dutka and associate Hriday Chawla. The US Proskauer Rose LLP team was led by partners Ron Franklin, Jake Keaveny and Frank Oliver and the Irish Matheson LLP team was led by partner David O'Mahony and senior associate Manal Awan.