Latham & Watkins Advises on Strategic Financing Transaction of Up to US$500 Million for Blackstone and MannKind Corporation

MannKind Corporation (Nasdaq: MNKD), a company focused on the development and commercialization of inhaled therapeutic products and delivery devices for patients with endocrine and orphan lung diseases, and funds managed by Blackstone, have announced that they have entered into an up to US$500 million strategic financing agreement. The up to US$500 million senior secured credit facility consists of a US$75 million initial term loan funded at closing, a US$125 million delayed draw term loan (DDTL) available for the next 24 months, subject to customary drawdown conditions, and an additional US$300 million uncommitted DDTL available at the mutual consent of MannKind and Blackstone.

Latham & Watkins LLP represents Blackstone in the transaction with a transactional deal team led by partners Haim Zaltzman and Dan Van Fleet, with associates Yesenia Barberena and Kayla Matthews. Advice was also provided on tax matters by partner Eric Cho, with associate Kathryn Harrington; on intellectual property matters by counsel Robert Yeh, with associate Kristina Funahashi; on data privacy and cybersecurity matters by partner Robert Blamires, with associate Kathryn Parsons-Reponte; on healthcare regulatory matters by counsel Nicole Liffrig Molife, with associate Margaret Rote; on FDA matters by partner Ben Haas, with associate Meryl Bartlett; on trade control matters by associate Matthew Crawford; on anti-bribery and anti-corruption matters by associate Lucas Novaes; on capital markets matters by partners Eric Rice and Reza Mojtabaee-Zamani; and on compensation and benefits matters by partner Julie Crisp, with associate Megan Ampe.