Pestalozzi advises the Rank Group on the acquisition of the Reynolds Consumer Products Group and the Closure Systems International Group including financing arrangements for the acquisition
Reynolds Group Holdings Limited, a company of the Rank Group, acquired the Reynolds Consumer Products Group of companies and the Closure Systems International Group of companies from affiliated entities. Financing arrangements for the acquisition included:
(i) the issuance of USD 1.125 billion and EUR 450 million of senior secured notes and USD 1.035 billion and EUR 250 million of borrowings under a senior secured credit agreement in November 2009;
(ii) the issuance of USD 1.000 billion of senior unsecured notes and USD 800 million of incremental term loan borrowings under the senior secured credit agreement in April 2010;
(iii) the issuance of USD 1.500 billion of senior secured notes and of USD 1.500 billion of senior unsecured notes and USD 2.020 billion of incremental term loan borrowings under the senior secured credit agreement in October 2010; and
(iv) the issuance of USD 1.000 billion of senior secured notes, of USD 1.000 billion of senior unsecured notes and USD 2.325 billion and EUR 250 million of borrowings under the senior secured credit agreement.
Pestalozzi acted as Swiss advisor to the issuers, borrowers, and the Swiss guarantors.