Pricing of €790 million Senior Secured Notes
Published: June 5, 2020
Ardagh Group (“Ardagh”) has today priced an issue of €790 million 2.125% Senior Secured Notes due 2026 (the “Notes”) at 96.5, representing a yield of 2.74%. The Notes mirror the terms of our 2.125% Senior Secured Notes due 2026, issued in August 2019.
Proceeds from the issuance of the Notes, net of expenses, will be used to redeem in full the €741 million 2.750% Senior Secured Notes due 2024, as well as to pay accrued interest and redemption premium.
Paul Coulson, Chairman and CEO, said “Ardagh is delighted with the very strong support we received in today’s upsized transaction. Following our capital markets activity of recent weeks we have no bond maturities before 2025, a weighted average debt maturity of six years and we have significantly increased our liquidity.”
This release is for information purposes only and is not an offer to purchase, or a solicitation of an offer to purchase, any of the 2.750% Senior Secured Notes due 2024.
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Pat Walsh, Murray Consultants
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The offering of the Notes will be made pursuant to an exemption under the Prospectus Regulation, 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 Regulation.
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 are being 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. 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 U.S. Securities Act of 1933, or an exemption from registration.
MiFID II professionals/ECPs-only/No PRIIPs KID – Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail in EEA.
The documentation detailing the investment or investment activity to which this press release relates has not been approved by an authorized person in the United Kingdom and is for distribution only to persons who (i) have professional experience in matters relating to investments falling within Article 19(5) of the UK Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Financial Promotion Order”), (ii) are persons falling within Articles 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the Financial Promotion Order, (iii) are outside the United Kingdom or (iv) are persons to whom an invitation or inducement to engage in investment activity within the meaning of Section 21 of the UK Financial Services and Markets Act 2000 in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as “relevant persons”). The documentation detailing the investment or investment activity is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this press release relates is available only to relevant persons and will be engaged in only with relevant persons.
