Ardagh Group announces that it has priced the following transactions, totalling $1.53 billion, to finance the acquisition of Verallia North America (“VNA”) as follows; $700 million Senior Secured Term Loan B at a coupon of LIBOR plus 3.00% (together with a 1.00% LIBOR floor, this financing has a current interest cost of 4.00%) $415 million Senior Unsecured Notes due 2019 at a coupon of 6.25% $415 million Senior Unsecured Notes due 2021 at a coupon of 6.75% Ardagh is very pleased with the continued support it has received from debt investors and the current financings, at an average cost of 5.4%, will substantially reduce the interest cost of funding the acquisition of VNA, as compared to the original financings priced in January 2013.Ardagh expects to complete the acquisition of VNA by 30 April 2014.Following completion of the VNA acquisition, Ardagh will operate 101 facilities globally, employing 19,500 staff and reinforce its position as a global leader in packaging solutions, producing metal and glass packaging for most of the world's leading food, beverage and consumer care brands.The Notes have not been registered under the U.S.
Securities Act of 1933, as amended, or any U.S. State security laws. Accordingly, the Notes have been offered and sold in the United States only to qualified institutional buyers in accordance with Rule 144A under the U.S. Securities Act of 1933 and outside the United States in accordance with Regulation S under the U.S. Securities Act of 1933.
The offering of Notes has been made pursuant to an exemption under the Prospectus Directive, as implemented in Member States of the European Economic Area, from the requirement to produce a prospectus for offers of securities. This announcement does not constitute an advertisement for the purposes of the Prospectus Directive.
This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of securities referred to in this announcement, in any jurisdiction, including the United States, in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Securities may not be offered or sold in the United States absent registration under the Securities Act, or an exemption from registration.
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www.ardaghgroup.com
2014-02-03T12:00:00
Acquisition of Verallia North America
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