Apollo Global Management acquisition of Verallia

Overview:

• Private equity firm Apollo Global Mangement completed the acquisition of 90% of bottle manufacturer Verallia from French manufacturer Saint‑Gobain. 
• The transaction was the result of a bidding process, which valued the company in the region of €2.95 billion.
• Bpifrance also bought a 10% share in the company. 
• Verallia has become an independent unit since the sale. 
• Financing for the acquisition came in the form of a high-yield bond issue by way of senior secured notes and subordinated secured notes, and a senior debt. 
• The financing included a €1 billion Term Loan B facility, a €200 million revolving facility, €300 million senior secured fixed rate notes and €225 million senior fixed-rate notes. 
• The mandated lead arrangers were Credit Suisse, Deutsche Bank, Barclays, Nomura, BNP Paribas and Société Générale.

John Crabb - Journalist