Frigoglass’s €260 Million High Yield Bond Offering

Shearman & Sterling advised Frigoglass S.A.I.C. on the deal.

Frigoglass S.A.I.C. completed the high yield notes offering of €260 million 6.875% senior secured notes due 2025 by its wholly owned subsidiary, Frigoglass Finance B.V. The notes are guaranteed on a senior secured basis by Frigoglass S.A.I.C. and certain of its subsidiaries.

The offering, which was conducted pursuant to Rule 144A and Regulation S under the US Securities Act, closed on February 12, 2020. The proceeds from the offering will be used to repay certain existing indebtedness, for general corporate purposes and pay related fees and expenses.

Frigoglass S.A.I.C., headquartered in Athens, Greece and listed on the Athens stock exchange, is one of the world’s leading manufacturer of commercial beverage coolers and one of the largest suppliers of high quality glass containers and complementary packaging products in West Africa.

The Shearman & Sterling team included Marwa Elborai (Picture), Gordon Houseman, Carla Russo, Evangelia Andronikou, Philip Stopford, Leona Mcmanus, Charlie Marmion, Michael Poolton, Kristen Garry, Simon Letherman, Eunjee Chae, Molly Harding, and also included associate Alex Despotovic (London-Capital Markets).

Involved fees earner: Evangelia Andronikou – Shearman & Sterling; Eunjee Chae – Shearman & Sterling; Marwa Elborai – Shearman & Sterling; Kristen Garry – Shearman & Sterling; Molly Harding – Shearman & Sterling; Gordon Houseman – Shearman & Sterling; Simon Letherman – Shearman & Sterling; Charlie Marmion – Shearman & Sterling; Leona McManus – Shearman & Sterling; Michael Poolton – Shearman & Sterling; Carla Russo – Shearman & Sterling; Philip Stopford – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Frigoglass S.A.I.C.;