Shearman & Sterling represented Ardagh Packaging Finance plc and Ardagh Holdings USA Inc., as co-issuers, both subsidiaries of Ardagh Group S.A. (Ardagh), on their offering of £400 million 4.750% Senior Notes due 2027 (the “Notes”). The Notes are guaranteed by Ardagh Group S.A. as parent guarantor and will be guaranteed by certain of its wholly owned subsidiaries.
The net proceeds from the offering, together with cash on Ardagh’s balance sheet, will be used to fund the full redemption of the outstanding $500 million Senior Secured Floating Rate Notes due 2021 and the associated redemption premiums and to pay fees and expenses related to the offering. Contemporaneously with the closing of the offering, Ardagh also plans to fully redeem the co-issuers’ €405 million 4.250% First Priority Senior Secured Notes due 2022.
Ardagh is a major global glass and metal packaging manufacturer. Ardagh operates 110 glass and metal manufacturing facilities located in 22 countries across five continents. It supplies companies such as AB InBev, Akzo Nobel, Bacardi, Bonduelle, Coca-Cola, ConAgra Foods, Constellation Brands, Diageo, Heineken, The Kraft Heinz Company, Nestlé, Pernod Ricard, Procter & Gamble and Unilever.