Shearman & Sterling LLP multinational law firm headquartered in New York City, United States.

News Nov 25, 2019

ARD Finance S.A.’s $2.2 Billion Notes Offering

Shearman & Sterling represented ARD Finance S.A. in connection with its offering of $2.2 billion notes, consisting of $1.13 billion 6.500% / 7.250% senior secured toggle notes due 2027 and €1 billion 5.000% / 5.750% senior secured toggle notes due 2027.

The offering, which was conducted pursuant to Regulation S and Rule 144A under the U.S. Securities Act, closed on November 20, 2019. 

The net proceeds of the transaction will be used towards the redemption of the senior secured 8.750% PIK notes due 2023 issued by ARD Securities Finance SARL, the redemption of the 7.125% / 7.875% senior secured toggle notes due 2023 and 6.625% / 7.375% senior secured toggle notes due 2023 issued by ARD Finance S.A., and general corporate purposes.

The Shearman & Sterling team below included associates Harekrishna Ashar, Anna Shelton, and Elliot Domio.

 The Team