Shearman And Sterling

News June 12, 2014

Shearman & Sterling Advises Ardagh Finance Holdings S.A. on $710 Million Senior PIK Notes and €250 Million Senior PIK Notes Offering

Shearman & Sterling represented Ardagh Finance Holdings S.A., an indirect parent company of Ardagh Packaging Holdings Limited (“Ardagh Packaging Holdings”), in its offering of $710 million 8.625% Senior PIK Notes due 2019 and €250 million 8.375% Senior PIK Notes due 2019. The net proceeds from the issuance will be used to fund the redemption of the existing PIK notes due 2018 issued by ARD Finance S.A. and to finance a return of capital to shareholders. The offering, which was conducted pursuant to Rule 144A and Regulation S under the US Securities Act, closed on June 12, 2014.

Ardagh Packaging Holdings is a major global glass and metal packaging manufacturer with 94 production facilities located in 23 countries across five continents. Ardagh Packaging Holdings supplies companies such as AB InBev, Akzo Nobel, Bacardi, Bonduelle, Coca-Cola, Del Monte Foods, Diageo, Heineken, H.J. Heinz, Kraft, Nestle, Pernod Ricard, Procter & Gamble, SABMiller and Unilever.

The Team