Elvinger Hoss Prussen, under the leadership of Partner Karl Pardaens and Counsel Cristina Beniog, advised Ardagh Group S.A. on its previously announced 4.3$bn comprehensive recapitalisation transaction, including a debt-for-equity swap of $4.3 billion, provision of $1.5 billion in new capital, and extension of bond maturities.
Ownership was transferred to holders of the SUNs and the PIK Notes, principally comprising major financial institutions and investment funds who have been long-term investors in Ardagh's securities, and who 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 around the world.
Ardagh Metal Packaging (AMP), 76%-owned by Ardagh Group is listed on the New York Stock Exchange.
Ardagh operates 58 metal and glass production facilities in 16 countries, employing approximately 19,000 people with sales of approximately $9.1bn.
The team was led by Partner Karl Pardaens and Counsel Cristina Beniog, and comprised Senior Associate Piotr Sklodowski, Associates Berkay Baran, Nicolas Moumaneix and Lawyer Christelle Elonvenamaye-N'Zondo. The litigation team was comprised of Partners Elisabeth Omes and Michel Nickels, assisted by Associates Lynn Kieffer and Léopold Kirgo as well as Lawyer Lucie Junck.
