Ardagh Group Announce £400M Financing

It was reported 9th June that Ardagh Group has launched a bond offering of £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 US$ 500 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 405m First Priority Senior Secured Notes due 2022, funded through net proceeds of EUR 299m from the Initial Public Offering, together with available cash resources.