LUXEMBOURG, Feb. 26, 2021 /PRNewswire/ -- Ardagh Group
("Ardagh") (NYSE:ARD) announces that Ardagh Metal Packaging S.A.
("AMP") has priced the following transactions, totalling
approximately $2.8 billion
- €450 million Senior Secured Notes due 2028, at a coupon of
- $600 million Senior Secured Notes
due 2028, at a coupon of 3.250%
- €500 million Senior Notes due 2029, at a coupon of 3.000%
- $1,050 million Senior Notes due
2029, at a coupon of 4.000%, (collectively the "Notes").
The issuance follows the announcement on February 23, 2021 of the proposed combination of
its metal packaging business with Gores Holdings V Inc,
(NASDAQ:GRSV, GRSVU and GRSVW), under which Gores Holdings V will
combine, subject to a shareholder vote, with Ardagh's beverage can
business, that will be held by AMP. AMP intends to apply to list
its shares on the New York Stock Exchange, under the new ticker
Gross proceeds of the Notes will be held in escrow until the
entities currently conducting the metal packaging business within
Ardagh transfer to become wholly-owned subsidiaries of AMP, and AMP
and its subsidiaries will be released from their obligations under
existing Ardagh notes. Proceeds, net of expenses, will then be used
to pay $2,315 million equivalent to
Ardagh in part consideration for this transfer.
The Notes will be issued in accordance with Ardagh's Green
Paul Coulson, Chairman and CEO of
Ardagh Group, said "We are delighted with the very strong support
for AMP from existing and new investors, in this upsized offering
of Green Bonds. We look forward to closing the combination with
Gores Holdings V, which we expect to complete in the second quarter
About Ardagh Group
Ardagh is a global supplier of
infinitely-recyclable metal and glass packaging for the world's
leading brands. Ardagh operates 56 metal and glass production
facilities in 12 countries, employing more than 16,000 people with
sales of approximately $7
About Ardagh Metal Packaging
AMP will hold Ardagh's
metal packaging business, which is a leading supplier of beverage
cans globally, with a particular focus on The Americas and
Europe. Ardagh's metal packaging
business operates 23 production facilities in Europe and the Americas, employs approximately
4,900 people and recorded revenues of $3.5
billion in 2020.
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
The offering of the Notes will be made pursuant to an
exemption under the UK Financial Services and Markets Act 2000 and
the UK Prospectus Regulation from the requirement to produce a
prospectus for offers of securities. This announcement does not
constitute an advertisement for the purposes of the UK Prospectus
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
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.
UK MiFIR professionals/COBS ECPs-only/No UK PRIIPs KID –
Manufacturer target market (UK MiFIR product governance) is
eligible counterparties and professional clients only (all
distribution channels). No UK PRIIPs key information document (KID)
has been prepared as not available to retail in UK.
This press release contains inside information for the
purposes of Article 7 of Regulation (EU) No 596/2014. The person
responsible for the release of this information on behalf of Ardagh
Metal Packaging S.A., Ardagh Metal Packaging Finance plc and Ardagh
Metal Packaging Finance USA LLC is
John Sheehan, Corporate Development
& Investor Relations Director.
This press release 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
Article 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"). This press
release 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.
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SOURCE Ardagh Group S.A.