Ardagh acquisition of Verallia North America

In view of its acquisition of Verallia North America, Ardagh has priced a series of transactions. Following completion of the VNA acquisition, expected to be completed by 30 April 2014, Ardagh will operate 101 facilities globally, employing 19,500 staff.

Ardagh Group announces that it has priced the following transactions, totalling USD 1.53 billion, to finance the acquisition of Verallia North America (VNA) as follows:
USD 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%)
USD 415 million Senior Unsecured Notes due 2019 at a coupon of 6.25%
USD 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.