DZP advises on CANPACK’s EUR 500 million and USD 500 million notes offering

DZP advised the initial purchasers, led by Citigroup Global Markets Europe AG and Wells Fargo Securities, LLC, on the Polish law aspects of a high-yield notes offering by CANPACK Group, Inc. and CANPACK S.A.

The transaction comprised the issuance of EUR-denominated and USD-denominated senior notes with aggregate principal amounts of EUR 500 million and USD 500 million, respectively.

Simpson Thacher & Bartlett acted as lead international counsel to the initial purchasers, while DZP supported the transaction as Polish legal counsel. DZP’s advice covered Polish law aspects of the transaction, including capital markets, regulatory, tax, environmental, and restructuring and insolvency matters.

CANPACK is a global manufacturer originating from Poland, producing aluminium cans, glass bottles and other packaging solutions for the food and beverage sector.

The DZP team was led by Piotr Parzyszek, Senior Associate in the Capital Markets and Financial Institutions Practice, with partner oversight from Magdalena Skowrońska, who heads the practice.

The team also included Michał Cecerko, Partner in the restructuring & insolvency proceedings team. Daniel Chojnacki, Partner, and Maria Szczurek, Associate, from the environmental protection team, as well as Grzegorz Sprawka, Partner, and Michalina Grzyb, Tax Consultant, from the Tax Practice.

“I am very pleased that the initial purchasers and their international counsel trusted us with the Polish law aspects of this offering. A transaction like this touches many areas of law, so it was important to have the right people around the table. We brought together colleagues from several DZP practices and gave the transaction team clear, practical Polish law support where it was needed” said Magdalena Skowrońska, Partner and Head of the Capital Markets and Financial Institutions Practice.