The New York and London offices of Debevoise & Plimpton LLP have advised Reynolds Group Holdings Limited (“Reynolds Group”) in the placement of $1.35 billion of 5.125% senior secured notes due 2023, $750 million of senior secured floating rate notes due 2021, and $800 million of 7.000% senior notes due 2024.
Reynolds Group has used or intends to use the net proceeds from the offerings, together with available cash and the proceeds from new borrowings under its existing securitization facility, to repay, redeem or discharge a number of previously issued senior secured notes, senior notes, and senior subordinated notes.
Reynolds Group is a leading global manufacturer and supplier of consumer food and beverage packaging and storage products.
The Debevoise team advising Reynolds Group was led by London partner Pierre Maugüé and New York partner Steven J. Slutzky, and included partner David A. Brittenham, counsel Christopher Rosekrans, and associate Kevin Grondahl. Tax advice was provided by partner Michael Bolotin and associate Michael Layfield.
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