Shearman & Sterling has advised Citigroup Global Markets Inc. as initial purchaser in connection with a $150 million bond offering by FAGE Dairy Industry S.A. and its US subsidiary, FAGE USA Dairy Industry, Inc. The deal closed on January 29.

FAGE is one of the leading dairy companies in Greece. The proceeds of the offering will be used to refinance some of FAGE’s long-term borrowings.

The Shearman & Sterling team of lawyers in the firm’s London and New York offices was led by capital markets partner Ward McKimm. He was assisted by associates Apostolos Gkoutzinis, Cedric Van den Borren and Tasha Matharu. Tax advice was provided by partner Bernie Pistillo and associate Amy Lewis.