Global law firm White & Case LLP has advised Verallia on its dual tranche issuance of a €350 million bond maturing in November 2029 with a 3.500 % fixed coupon, and a €500 million bond maturing in November 2033 with a 4.375 % fixed coupon.
The net proceeds of the issuance will be used to refinance the funds drawn under the bridge loan agreement entered into between Verallia and a banking syndicate on 23 April, 2025, implemented in connection with the public tender offer initiated by its reference shareholder BWGI. This will cover the early redemption of existing bonds of Verallia, further to the change of control resulting from the completion of the offer.
The transaction was managed by a syndicate of banks led by BNP Paribas, Crédit Agricole Corporate and Investment Bank and Société Générale Corporate & Investment Banking, acting as global coordinators.
Verallia is a European leader and the world's third-largest producer of glass packaging for beverages and food products, with almost 11,000 employees and 35 production facilities in 12 countries. Its shares are admitted to trading on the Euronext Paris regulated market.
White & Case also recently advised Verallia on the public tender offer of BWGI.
The White & Case team in Paris which advised on the transaction was led by partners Thomas Le Vert and Boris Kreiss and included associate Paul-Grégoire Longrois.
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