Shearman & Sterling represented Glatfelter Corporation in connection with its offering of $500 million aggregate principal amount of 4.750 percent senior notes due 2029.
The net proceeds from the offering of the notes, together with cash on hand, are expected to be used to pay the purchase price of the acquisition of PMM Holding (Luxembourg) AG (“Jacob Holm”), to repay certain indebtedness of Jacob Holm, to repay outstanding revolving borrowings under Glatfelter’s credit facility, and to pay estimated fees and expenses.
Glatfelter is a leading global supplier of engineered materials. Its high-quality, innovative and customizable solutions are found in tea and single-serve coffee filtration, personal hygiene and packaging products as well as home improvement and industrial applications. Headquartered in Charlotte, North Carolina, Glatfelter’s annualized net sales approximate $1 billion with customers in over 100 countries and approximately 2,550 employees worldwide.
The Shearman & Sterling team below included Arshia Asif (New York-Finance), Jake Shaughnessy (New York-Mergers & Acquisitions), visiting attorney Camila De Lasa (New York-Mergers & Acquisitions).