Anchor Glass’s Senior Secured Loan Facilities

Cravath represented Credit Suisse AG in connection with the arrangement of a $650 million senior secured first lien term loan facility and a $150 million senior secured second lien term loan facility, and UBS AG in connection with the arrangement of a $120 million senior secured ABL facility. In each case, the loans were made available to an affiliate of CVC Capital Partners Advisory (U.S.), Inc. and BA Glass B.V. to finance their acquisition of the shares of Glass Container Holdings, Inc. and for general corporate purposes. Glass Container Holdings, Inc. is the parent company of Anchor Glass Container Corporation, a leading manufacturer of glass packaging for beer, liquor, food, beverage, ready‑to‑drink and consumer end‑markets. The transactions closed on December 7, 2016.

The Cravath team included partners Paul H. Zumbro and Craig F. Arcella, senior attorney Sarah F. Rosen and associates Isaac C. Beerman, Samuel P. Niles, Noah X. DeBlasi and Shakera M. Thompson on banking matters; practice area attorney Janet L. Lewis on real estate matters; partner Matthew Morreale on environmental matters; and partner Eric W. Hilfers on executive compensation and benefits matters. Anthony J. Ramirez and Nathan H. Trunnell also worked on banking matters and Christopher C. Gonnella also worked on executive compensation and benefits matters.