Smurfit Kappa Treasury Unlimited Company’s €1 Billion High‑Yield Sustainability‑Linked Senior Notes Offering

Cravath represented the initial purchasers in connection with the €1 billion Regulation S high‑yield sustainability‑linked senior notes offering of Smurfit Kappa Treasury Unlimited Company, a wholly owned subsidiary of Smurfit Kappa Group plc, one of the world's largest integrated manufacturers of paper‑based packaging products. The notes were listed on the Global Exchange Market. The transaction closed on September 22, 2021.

The Cravath team included partner Philip J. Boeckman and associates Brian T. Bodensteiner, Nadia T. Odai‑Afotey, Emma C. Ireland and Hamza Sebti on capital markets matters, partner Matthew Morreale on environmental matters and associate Alissa B. Fromkin on tax matters.