LUXEMBOURG, Nov. 4, 2019 /PRNewswire/ -- ARD Finance S.A.
("ARD Finance") announces that it intends to raise
$2,215 million equivalent ($/EUR) of
debt financing, through an offering of Senior Secured Toggle Notes
due 2027 (the "Notes").
Proceeds from this offering will be used to fund the redemption
of (i) the Senior Secured 8.750% PIK Notes due 2023 issued by ARD
Securities Finance SARL, at an accreted amount of $399 million, and (ii) the €845 million 6.625% /
7.375% Senior Secured Toggle Notes due 2023 and $770 million 7.125% / 7.875% Senior Secured
Toggle Notes due 2023 issued by ARD Finance, together with optional
redemption premium, accrued interest and related fees and
expenses.
ARD Finance owns approximately 92% of Ardagh Group S.A. (NYSE:
ARD). In the twelve months ended September
30, 2019, pro forma for the disposition of its Food &
Specialty business, Ardagh Group S.A. recorded revenue and Adjusted
EBITDA of $6,668 million and
$1,178 million respectively. Leverage
of Ardagh Group S.A. is unaffected by this intended financing, with
its parent company debt maturities extended from 2023 to 2027.
Ardagh Group S.A. is a global supplier of infinitely
recyclable metal and glass packaging for the world's leading
brands. Ardagh operates more than 50 metal and glass production
facilities in 12 countries across three continents, employing over
16,000 people, with sales of $7bn.
November 4,
2019
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 Directive.
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.
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SOURCE ARD Finance S.A.