Elvinger Hoss Prussen advised Ardagh Group on $4.3bn recapitalisation transaction

Elvinger Hoss Prussen advised Ardagh Group S.A. on its previously announced comprehensive recapitalisation transaction. The transaction comprised a $4.3 billion debt-for-equity swap, the provision of $1.5 billion in new capital and the extension of bond maturities. Ownership of the group was transferred to holders of the SUNs and the PIK Notes, principally major financial institutions and investment funds who have been long-term investors in Ardagh’s securities. Those holders, together with holders of the SSNs, also contributed the $1.5 billion in new capital to the group. Ardagh Group is a global supplier of sustainable, infinitely recyclable metal and glass packaging for brand owners worldwide. Ardagh Metal Packaging (AMP), 76% owned by Ardagh Group, is listed on the New York Stock Exchange. The group operates 58 metal and glass production facilities across 16 countries, employs approximately 19,000 people and reported sales of approximately $9.1 billion. Elvinger Hoss Prussen represented Ardagh Group S.A. with a team composed by: Partner Karl Pardaens and Counsel Cristina Beniog leading the corporate advisory; Senior Associate Piotr Sklodowski; Associates Berkay Baran and Nicolas Moumaneix; and Lawyer Christelle Elonvenamaye-N'Zondo. The litigation team comprised Partners Elisabeth Omes and Michel Nickels, assisted by Associates Lynn Kiefer and Léopold Kirgo, and Lawyer Lucie Junck.

Elvinger Hoss Prussen advised Ardagh Group on $4.3bn recapitalisation transaction

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