Shearman And Sterling

News June 05, 2020

Ardagh’s Tap Issuance of $715 Million Notes

Shearman & Sterling represented Ardagh in connection with its $715 million tap issuance of the 4.125% senior secured notes due 2026. The notes are being issued as additional notes under Ardagh’s indenture governing its $500 million 4.125% senior secured notes due 2026 issued on August 12, 2019.

The offering, which was conducted pursuant to Regulation S and Rule 144A under the U.S. Securities Act, closed on June 4, 2020.

The net proceeds of the transaction will be used to fund the redemption of the 4.250% senior secured notes due 2022.

Ardagh is a global supplier of metal and glass packaging for the world’s leading brands. Ardagh operates more than 50 metal and glass production facilities in 12 countries across three continents, employing over 16,000 people with sales of $6.7 billion.

The Shearman & Sterling team below also included associate Harekrishna Ashar.

The Team