Our Private Equity Group is considered the go-to practice for complex, bespoke and firm-defining transactions. With clients ranging from the world’s leading institutional asset managers to prominent middle-market private equity and growth equity firms, we offer comprehensive advice to general partners, limited partners, co-investors and other equity stakeholders, as well as portfolio companies, lenders and financial sponsor groups. The depth and continuity of our relationships across the industry gives us a nuanced understanding of each client’s objectives and allows us to provide seamless, efficient counsel across the investment lifecycle.
Apollo Investors Enter Into Agreement With Ardagh Group to Provide New Senior Secured Facility
- Client News
- April 15, 2024
Paul, Weiss advised certain investment funds and other entities managed by affiliates of Apollo Capital Management, L.P. in relation to a new senior secured credit facility for a subsidiary of Ardagh Group S.A., a global supplier of recyclable metal and glass packaging. The facility will consist of an initial €790 million senior secured term loan and a $250 million senior secured exchange term loan, as well as additional senior secured term loans in an amount sufficient to fund a debt service reserve account. Ardagh Investments Holdings Sarl, as the borrower, intends to on-lend the majority of the proceeds to allow the group to redeem the $700 million senior secured notes due 2025.
The Paul, Weiss team was led by partners Gregory Ezring, David Carmona, Matthew Friedman and Ken Ziman, and included corporate counsel Christopher Dickson; tax partners Brian Grieve and Cian O’Connor, and counsel Jamie Chambers and Samir Kurani; and litigation partner Andrew Ehrlich.