Shearman & Sterling has advised Ardagh Packaging Finance plc and Ardagh MP Holdings USA Inc on their offering of $420 million in high yield bonds, comprising $160 million in First Priority Senior Secured Notes due 2017 issued by Ardagh Packaging Finance plc and $260 million in Senior Notes due 2020 co-issued by Ardagh Packaging Finance plc and Ardagh MP Holdings USA Inc.

Both issuers are wholly owned subsidiaries of Ardagh Packaging Holdings Limited, a major European glass and metal container manufacturer that supplies companies such as Absolut, Coca Cola, Heineken, Nestle and Unilever. Proceeds from the high yield bond offering will be used for general corporate purposes, including to finance acquisitions under consideration or repay existing indebtedness.

The Shearman & Sterling team of lawyers included partners Apostolos Gkoutzinis (London-Capital Markets), Peter Hayes (London-Finance) and Craig Gibian (Washington, DC-Tax); counsel Gabrielle Wong (London-Finance); and associates Rebecca Marques (London-Capital Markets), Kara Major (London-Capital Markets), Randy Nahle (London-Capital Markets), Shane Burke (London-Finance), Eric Ho (London-Finance), Monsiree Jirasarunya (London-Finance) and Jeffrey Tate (Washington, DC-Tax).

Shearman & Sterling has, in the past, advised Ardagh and its subsidiaries on various matters including ARD Finance S.A. on its €185 million secured PIK notes and $345 million secured PIK notes offering and Ardagh Glass in its €1.7 billion acquisition of Impress Coöperatieve U.A. and high yield bond offering.