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Simpson Thacher represented German company Gerresheimer AG, a leading worldwide manufacturer of high-quality specialty-glass and plastic products for the pharmaceutical and life science industry, in its initial public offering, the biggest so far this year in Germany.

The offering comprised 11.4 million shares from a capital increase and 10.6 million shares from the holdings of an affiliate of The Blackstone Group International Limited, who also provided 3.3 million shares to cover possible over-allotments. Assuming full exercise of the over-allotment option, total proceeds of the offering for Gerresheimer and the selling shareholder are approximately €1 billion. The offering was conducted as a public offering in Germany, with a listing on the Frankfurt Stock Exchange, and an international offering to institutional investors under Regulation S and Rule 144A. The joint global coordinators for the offering were Credit Suisse and Morgan Stanley.

In connection with the offering, Gerresheimer also refinanced its senior credit facility with a new credit facility of €275 million, and plans to redeem senior notes in the amount of €84 million.

The transactions were conducted out of the firm’s London office. The Simpson Thacher team includes Nick Shaw, Harald Zeiter and Trinh Le (Capital Markets), Euan Gorrie and Aurelien Jolly (Credit), and Meredith Jones and Jenifer Marsh (Tax). Mike Isby (Environmental) and Michael Richman (Employee Benefits) from the New York office also advised on the transactions. Hengeler Mueller provided German legal advice to Gerresheimer.