Shearman & Sterling represented Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, BNP Paribas, BNP Paribas Securities Corp., The Royal Bank of Scotland plc and RBS Securities Inc. as arrangers in a $3 billion financing for Sealed Air Corporation (Sealed Air) related to its acquisition of Diversey Holdings, Inc. and the repayment of certain indebtedness. The firm also represented Citigroup Global Markets Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated as representatives of the several initial purchasers in Sealed Air’s private placement of $750 million of its 8.125% Senior Notes due 2019 and $750 million of its 8.375% Senior Notes due 2021. A portion of the proceeds of the Senior Notes offering was used to finance the acquisition.

Sealed Air is a leading global innovator and manufacturer of packaging and performance-based materials and equipment systems serving a broad range of food, industrial, medical, and consumer end markets worldwide.

The cross-practice Shearman & Sterling team included partners David Beveridge (New York-Capital Markets), Winfried Carli (Munich-Finance), and Steven E. Sherman (New York-Finance); counsel Barbara Edwards (New York-Finance) and Harald Halbhuber (New York-Capital Markets); and associates Jordan Altman (New York-Intellectual Property Transactions), Brian Bishop (New York-Capital Markets), Kevin Boon (New York-Mergers & Acquisitions), Ben Burton (London-Finance), Korey Fevzi (London-Finance), Matthew Gautier (New York-Finance), Timothy Hanson (New York-Executive Compensation & Employee Benefits), Osi Innih (New York-Finance), Mandee Lee (New York-Capital Markets), Ryan Mahoney (New York-Real Estate), Marco Moraes (London-Finance), Jennifer D. Morton (New York-Capital Markets), Lars Neumann (Munich-Finance), Geoff Rawle (New York-Capital Markets), Christian Rudloff (New York-Real Estate), Michael J. Steinberg (New York-Finance), Gary Tashjian (New York-Finance) and Adam Tartakovsky (New York-Real Estate).