Shearman And Sterling

News July 30, 2014

Shearman & Sterling Advises Lead Arrangers on $2.1 Billion Refinancing for Sealed Air Corporation

Shearman & Sterling advised Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Agricole Corporate & Investment Bank, Morgan Stanley Senior Funding, Inc. and RBS Securities Inc., as joint lead arrangers and bookrunners, and Bank of America, N.A., as agent, in connection with the second amendment and restatement of an existing multi-facility, multi-currency credit agreement for Sealed Air Corporation and various of its affiliates to allow for (i) the refinancing of its US Dollar, Euro, Japanese Yen and Canadian Dollar term loan A tranches and its US Dollar and multicurrency revolving credit facilities, (ii) the repayment of its US Dollar and Euro term loan B tranches, and (iii) the addition of a new Sterling term loan A tranche, a new short-term US Dollar term loan tranche and a delayed-draw US Dollar term loan A tranche for a Brazilian subsidiary of Sealed Air.

The Shearman & Sterling team included partners Michael J. Steinberg (New York-Finance), Steven Sherman (New York-Finance), Doreen Lilienfeld (New York-Compensation, Governance & ERISA), and Malcolm Montgomery (New York-Real Estate); counsel Lucy Keeble (London-Real Estate); associates Matthew Gautier (New York-Finance), Amy Gluckman (New York-Finance), Dana Lord (New York-Finance), Jamal Al-Haj (New York-Corporate), Korey Fevzi (London-Finance), and Hee Jae Park (New York-Real Estate); and trainee Giorgia Clements (London-Real Estate).