Simpson Thacher represented the initial purchasers, led by Citigroup Global Markets Europe AG and Wells Fargo Securities, LLC , in connection with the 144A/Regulation S offering of US$500 million aggregate principal amount of 6.000% Senior Notes due 2031 and €500 million aggregate principal amount of 4.875% Senior Notes due 2032 by CANPACK Group, Inc. and CANPACK S.A. (together, “CANPACK”).
CANPACK intends to use the net proceeds from the offering to redeem in full its existing €600 million aggregate principal amount of 2.375% Senior Notes due 2029, repay and cancel its $175 million unsecured bridge term loan facility and for general corporate purposes.
CANPACK, part of Giorgi Global Holdings, Inc., is a global manufacturer of aluminum beverage cans and packaging solutions for the food and beverage industries, as well as glass bottles and metal closures.
The Simpson Thacher team included Brian Rosenzweig, Carol Daniel, Maggie Selbe, Busra Kakdas and Erin Vogt (Capital Markets); Jon Cantor and Jacob Chefitz (Tax); George Gerstein (ECEB); Jennie Gestin (Blue Sky); and Caroline Geiger and Tally Smitas (IP).