Shearman And Sterling

News March 12, 2021

Ardagh Metal Packaging $2.8 Billion High Yield Green Bond Offering In Connection With Business Combination

Shearman & Sterling represented Ardagh Metal Packaging Finance plc and Ardagh Metal Packaging Finance USA LLC, both subsidiaries of Ardagh Metal Packaging S.A ("Ardagh Metal Packaging"), on their $2.8 billion offering of multi-currency high yield notes (the “Offering”).

Ardagh Metal Packaging intends to allocate the net proceeds of the Offering to finance and/or refinance, in whole or in part, eligible green projects in accordance with the Ardagh Group Green Financing Framework.  At a total aggregate principal amount of $2.8 billion, the Offering is the largest offering of Green Bonds ever completed.

The proceeds from the Offering of the Notes will be used to provide a portion of the cash consideration payable to Ardagh Group S.A. in connection with the combination of Ardagh Metal Packaging, the metal packaging business of Ardagh Group S.A., with Gores Holdings V, Inc., a special purpose acquisition company affiliated with The Gores Group.

Ardagh Metal Packaging is a global supplier of infinitely-recyclable metal and glass packaging for the world’s leading brands, operating 23 production facilities in 9 countries and employing over 4,900 people with sales of $3.5 billion.

The Shearman & Sterling team was led by partner Trevor Ingram and included associates Evangelia Andronikou, Harekrishna Ashar and Alex Despotovic. 

The Shearman & Sterling team below also included associates Gina Eum.

The Team