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Fedrigoni Completes €730 Million Notes Offerings
- Client News
- May 20, 2024
Practices
Paul, Weiss advised Fedrigoni, an Italy-based portfolio company of Bain Capital and BC Partners in the issuance of €430 million of senior secured notes due 2031 and €300 million senior holdco pay-if-you-can toggle notes due 2029. Fedrigoni is a leading manufacturer of pressure-sensitive products and premium packaging materials. Proceeds from the offerings were used to refinance existing debt. This is the first time that toggle notes, which allow payment of interest in cash or the deferral of interest payment in a given period, subject to certain conditions, have been issued by an Italian company in a widely syndicated bond offering.
The Paul, Weiss team was led by corporate partner Matthew Merkle and counsel Nicolò Ascione, and included partners Neel Sachdev, Deirdre Jones and Kanesh Balasubramaniam; and tax partners Cian O’Connor and Lindsay Parks, and counsel Patrick Karsnitz and Samir Kurani.