Conyers advises Credit Suisse on US$5 billion acquisition financing package – November 2010

Sheba Raza • Posted 20/11/2010 • Under Deals & Cases

Conyers Dill & Pearman advised Credit Suisse, as lead arranger for a consortium of financial institutions, in connection with the provision of acquisition financing to Reynolds Group Holdings Limited, a leading global manufacturer and supplier of consumer food and beverage packaging and storage products, for its acquisition of Pactiv Corporation.

The financing package comprised debt facilities of approximately US$2 billion together with an offering, by way of private placement, of US$3 billion senior notes to be issued by various subsidiaries of Reynolds Group Holdings Limited.

Conyers advised on British Virgin Islands law aspects of the credit agreement, notes documentation and related security package, working alongside Cravath, Swaine & Moore LLP and Clifford Chance LLP who advised on the US law and English law aspects of the transaction respectively.

With a multi-jurisdictional presence in Bermuda, BVI, Cayman and London, Conyers has advised on a large number of financing transactions this year.

Reynolds Group is a leading global manufacturer and supplier of consumer food and beverage packaging and storage products and operates through five primary divisions: Reynolds Consumer, Reynolds Foodservice, SIG, Evergreen and Closures. Reynolds Group is based in Auckland, New Zealand.