Weil Advises on High Yield Offering by the Frigoglass Group

Weil advised certain noteholders in connection with the offering by the Frigoglass Group of €20 million privately placed 4% Cash Interest and 11.5% PIK Interest Senior Secured Notes due 2026 (the Notes).

The Frigoglass Group is a leading international producer of Ice‐Cold Merchandisers (ICMs) and a major supplier of high-quality glass containers and complementary packaging products in West and Central Africa.

The Notes were purchased by certain noteholders of the existing €75 million Senior Secured Notes due 2026 (the Existing Senior Secured Notes) and €150 million Second Lien Notes due 2028 (the Existing Second Lien Notes) of the Frigoglass Group. As part of the transaction, noteholders holding requisite majorities of the outstanding Existing Senior Secured Notes and the Existing Second Lien Notes also approved certain amendments to the terms of such Existing Senior Secured Notes and Existing Second Lien Notes, respectively.

The proceeds of the offering of the Notes will be used to fund certain cash interest payments in connection with the Existing Senior Secured Notes and the Existing Second Lien Notes and for general corporate purposes.

The Weil team was led by Restructuring partner Matt Benson and High Yield partner Gilles Teerlinck and included High Yield counsel Maxim Frolov and associate Roberto Storlazzi, Restructuring associate Yalini Ravi, as well as Finance counsel Sophie Riley and associate Emma Lynam.