Ardagh Group has launched a bond offering of GBP 400 million Senior Notes due 2025. Proceeds from the issuance of the Notes, net of expenses, together with available cash, will be used to redeem in full the USD500 million Senior Secured Floating Rate Notes due 2021 in accordance with the call schedule and to pay accrued interest and applicable redemption premia.
The Group has also today given notice of redemption of the EUR 405 million First Priority Senior Secured Notes due 2022, funded through net proceeds of EUR 299 million from the Initial Public Offering, together with available cash resources.
Ardagh Group is a global leader in metal and glass packaging solutions, producing packaging for most of the world’s leading food, beverage and consumer brands. It operates 109 facilities in 22 countries, employing approximately 23,500 people and has global sales of approximately EUR 7.7 billion.