Ogier advises on financing of the Sycamore acquisition of Walgreens Boots Alliance

Ogier's multidisciplinary team in Luxembourg has advised The Boots Group Luxco S.a.r.l. in relation to the financing of the Sycamore Partners' acquisition of Walgreens Boots Alliance.

Walgreens Boots Alliance is an integrated healthcare, pharmacy and retail business operating in the United Kingdom, Ireland, Germany, Mexico and Asia, among others.

The Boots Group Luxco S.a.r.l. (The Boots Group) was a co-issuer of the €650 million 5.375% senior secured notes due 2032 and £375 million 7.375% Senior Secured Notes due 2032 and a guarantor of two credit facilities. The total value of the transaction represents up to US$23.7 billion.

Ogier provided multidisciplinary advice to The Boots Group on three financing streams (the notes issuance, the term loan and asset based lending (ABL) facilities), on finance and corporate law and tax aspects.

The Boots Group Luxco S.a.r.l. is domiciled in Luxembourg with Ogier's corporate and fund services business, Ogier Global.

Ogier's Corporate law team was led by partner Bertrand Géradin assisted by counsel David Al Mari and associate Yasmine M'Chaâr. The Banking and Finance team was led by partner Constantin Iscru assisted by associates Manon Hillenbrand and Yassine Bouzetit. Tax advice was provided by partner Aurélie Clementz assisted by counsel Hadrien Brémon and associate Muriel Jarosz.

Bertrand Géradin, practice partner for Ogier's Luxembourg office, said: "Ogier's role in this complex transaction demonstrates our commitment to delivering integrated legal solutions tailored to meet our clients' strategic and financial goals. Working closely with The Boots Group, we ensured seamless coordination across Corporate, Banking and Finance and Tax teams to support a transaction of this scale and significance."