Blackstone and Alnylam Pharmaceuticals Enter Into $2 Billion Strategic Financing Collaboration

April 14, 2020

Willkie represented Blackstone and its lending affiliate GSO Capital Partners, in a first lien senior secured term loan of up to $750 million for Alnylam Pharmaceuticals, Inc.

On April 13, Blackstone (NYSE: BX) and Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), a leading RNAi therapeutics company, announced the companies have entered into a broad strategic collaboration under which Blackstone will provide up to $2 billion to support Alnylam’s advancement of innovative RNA interference (RNAi) medicines that have the potential help patients suffering from a range of debilitating diseases.

GSO Capital Partners, one of the largest credit-focused alternative asset managers in the world and a lending affiliate of The Blackstone Group, together with other lenders, provided Alnylam Pharmaceuticals, Inc. a senior secured delayed draw term loan facility in an aggregate principal amount of up to $750 million. The loan facility was provided in connection with the $2 billion investment, which also included a $1 billion royalty purchase transaction and the purchase of $100 million of newly issued stock of Alnylam Pharmaceuticals, Inc.

Alnylam Pharmaceuticals, Inc. is a global commercial-stage biopharmaceutical company that is leading the translation of RNA interference into a new class of innovative medicines for the treatment of a wide range of debilitating diseases with high unmet medical need. Founded in 2002, Alnylam employs over 1,300 people worldwide and is headquartered in Cambridge, MA.

GSO Capital Partners LP is the global credit investment platform of Blackstone. Blackstone’s credit segment, which consists principally of GSO, has approximately $144 billion of assets under management. GSO is one of the largest alternative managers in the world focused on the leveraged-finance, or non-investment grade related, marketplace.

Representing GSO Capital Partners and Blackstone, the Willkie team was led by partners Viktor Okasmaa, William Gump and Daniel Durschlag, and included associates Jonathan Zane and Melissa Doura and law clerk Pia Mattsson.