New USPP under Belgian law for Biobest (BioFirst Group): CMS and Torys advise PGIM on the deal

Biobest (BioFirst Group), a world leader in pollination and integrated biological control, has successfully issued its new USPP governed by Belgian law, which was subscribed by the private capital business of PGIM, Inc.

This private placement in two tranches, totalling US$30 million and €30 million, with a 10-year maturity, was carried out on the basis of USPP documentation that is consistent with that used in the U.S. market, while being governed by Belgian law.

The proceeds from the transaction will be used for general corporate purposes of the Group.

For this transaction, the teams of CMS (France, Belgium, The Netherlands and Brazil) and Torys LLP (Canada), coordinated by Marc-Etienne Sébire, Partner and Global Co-Head of the CMS Banking & Finance Group, comprised:

• CMS France: Marc-Etienne Sébire, partner, Myriam Issad, counsel, and Délany Chelliah and Pierre Maunand, associates;
• CMS Belgium: Benoît Vandervelde, partner, and Pieter Van Noten, associate;
• CMS Netherlands: Etiënne Courbois, partner, and Mathijs van der Veen, associate;
• FAS Advogados (CMS' cooperation partner in Brazil): Renan Valverde Granja, partner, and Felipe Tanabe and Gabriel Vettorello, associates; and
• Torys LLP: Jacob Weinstock, senior associate.

Biobest (BioFirst) was advised by Jones Day, Willis Business Law and Stocche Forbes Advogados.