Shearman & Sterling has advised ARD Finance S.A., an indirect parent company of Ardagh Packaging Holdings Limited, in its offering of €185 million secured PIK (payment in kind) notes and $345 million secured PIK Notes.

Ardagh Packaging Holdings Limited is a major European container manufacturer that supplies companies such as Heineken and Coca Cola. Proceeds from the PIK notes offering will be used to refinance the existing PIK notes due 2015 issued by Ardagh Packaging Group plc, the direct parent company of Ardagh Packaging Holdings Limited.

The Shearman & Sterling team representing Ardagh Glass was led by corporate partner Apostolos Gkoutzinis in the firm’s London office. He was assisted by associates Rebecca Marques and Jason Banks. European Finance counsel Peter Hayes advised on the security aspects of the transaction, and European Finance associate Shane Burke advised on finance matters. Associate Amy Lewis advised on tax aspects of the transaction.