Barclays and JP Morgan Chase Bank Provide Financing Commitment for Seattle Genetics’ Proposed Acquisition of Cascadian Therapeutics

February 01, 2018

New York – Paul Hastings LLP, a leading global law firm, announced today that the firm represented Barclays and JPMorgan Chase Bank as lead arrangers with respect to a $400,000,000 committed financing provided to Seattle Genetics, a biotechnology company focused on antibody-based cancer therapies, in connection with its proposed acquisition of Cascadian Therapeutics, a clinical-stage biopharmaceutical company. The acquisition is expected to close in the first quarter of 2018, subject to customary closing conditions.

Finance partner John Cobb led the Paul Hastings team, which also included partner Marisa Sotomayor, associates Matthew Bartlett and Bianca Lee, and attorney Robert Matz.

The Paul Hastings Leveraged Finance team consists of more than 100 lawyers focusing on key markets across Asia, Europe, Latin America, and the U.S. Our lawyers advise many of the largest and most sophisticated financial institutions around the world. The Leveraged Finance team recently advised on the financings for several high-profile deals, including the $3.55 billion financing in connection with Meredith Corporation’s acquisition of Time Inc.; the $4.75 billion financing for Bass Pro Group, LLC’s acquisition of Cabela’s Incorporated; the $907 million financing for Compass Power Generation, L.L.C., a portfolio company of Starwood Energy Group Global, LLC; the $2 billion refinancing for Gardner Denver, Inc.; the acquisition of DigitalGlobe, Inc. by MacDonald, Dettwiler and Associates; and the $9.45 billion acquisition of Energy Future Holdings by Sempra Energy.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.