Banks receive counsel from our legal firm regarding Trivium Packaging's $2.925 billion debt refinancing in the United States.
In a significant move, global law firm White & Case LLP has advised a syndicate of investment banks on the refinancing of Trivium Packaging B.V., a leading supplier of innovative, rigid metal packaging solutions. The refinancing, amounting to $2.925 billion, was carried out with a focus on enhancing Trivium's financial position and supporting its growth ambitions.
The refinancing package included a €900 million term loan B facility maturing in 2030, as well as US$600 million 8.25% Senior First Lien Secured Notes due 2030, US$600 million 12.25% Senior Second Lien Secured Notes due 2031, and US$330 million asset-based lending facility.
Anthony K. Tama, a partner at White & Case LLP specializing in Capital Markets, Debt Finance, Financial Institutions, and Private Capital, with a focus on the Consumer & Retail sector, led the London-based team. Rajani Gupta, another partner specializing in Debt Finance and Bank Lending, and Judah Frogel, who specializes in Debt Finance and Bank Lending as well, also contributed from the New York office.
Anna Soroka, a partner who specializes in Capital Markets, Israel, Energy, Financial Restructuring and Insolvency, Technology, and Debt Finance, also played a crucial role in the transaction. Tarang Nagar, specializing in Capital Markets, and Viraj Bathe, specializing in Debt Finance, were also part of the team.
The transaction was further supported by associates Greg Brown, Diala Kakish, Alex Stevens, and international law clerks Jack Elliott and Anurag Chadha, all based in London, and Joe Christensen and Mark Geraci, based in Boston, who specialize in Financial Institutions and Debt Finance respectively.
The investment banks advising on the refinancing included BNP Paribas and MUFG. Trivium serves over 800 customers across more than 70 countries, and the net proceeds from the transactions were used to refinance its existing financing arrangements, pay related fees and expenses, and for general corporate purposes.
Joe Christensen, who specializes in Financial Institutions, and Mark Geraci, who specializes in Debt Finance, Private Credit & Direct Lending, Bank Lending, and Financial Institutions, were also part of the White & Case team that advised on the transaction.
This refinancing marks a significant milestone for Trivium Packaging B.V., strengthening its financial position and enabling the company to continue its growth trajectory in the global market. Lawyers in the White & Case offices in Frankfurt, Madrid, Milan, Paris, Prague, and Warsaw also advised on the transaction, demonstrating the firm's global reach and expertise.
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