Macquarie arranged a $34 million capital lease for Vertex Pharmaceuticals
01 Jun 2013
Macquarie arranged a $34 million capital lease for Vertex Pharmaceuticals, a NASDAQ listed biotechnology company. In response to Vertex's requirement to construct new headquarters and manufacturing facilities to streamline its operations and facilitate future growth, Macquarie structured a lease to finance the purchase of discrete tenant improvements for the new building. This arrangement provided Vertex with flexibility and the additional collateral needed to meet its expansion plans.
Having been brought into negotiations late following the withdrawal of Vertex's original funder, Macquarie was able to complete the transaction on a compressed timescale before Vertex's quarter end.