Clifford Chance advised on the issuance of $400 million senior unsecured notes offering by Oxford Finance and its wholly-owned subsidiary and co-issuer Oxford Finance Co-Issuer II Inc.

The notes, offered to qualified institutional buyers pursuant to Rule 144A, bear interest at a fixed rate of 6.375% and mature in 2027. Oxford used the net proceeds of this offering to redeem its US$300 million 6.375% senior notes due in 2022 and repaid a portion of its funding debt.

Oxford is a specialty finance firm that provides senior debt to life sciences and healthcare services companies.

A cross-disciplinary team at Clifford Chance advised Oxford on the finance and tax aspects of the transaction.

Partner Gary Brooks and counsel Jason Parsont led the transaction with support from partners Avrohom Gelber and Paul Koppel, associates Thomas Koh and Rick Thoben, and law clerks Hyde Kwan and Jarek Peterson.