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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.