Apollo Investors Enter Into Agreement With Ardagh Group to Provide New Senior Secured Facility

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.