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Packaging And Design

Ardagh Group Launches Bonds Worth €350m

Metal and glass packaging packaging company Ardagh Group has announced that it has launched a bond offering of €350 million.

The senior secured notes, offering an interest of 2.125%, are due in 2026.

The proceeds from the bond offering will be used by Ardagh Group to redeem a portion of the €741 million senior secured notes due in 2024.

It will also be used to pay accrued interest and redemption premium, the company said.

The company added that these notes are non-interchangeable mirror notes to the €439 million senior secured notes, due in 2026 and issued on 12 August 2019.

In April, the company withdrew its 2020 financial guidance stating that it was too early to assess the macroeconomic impact of the coronavirus pandemic on the business.

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