Le Lézard
Classified in: Mining industry, Environment, Science and technology, Business
Subjects: FNC, OFR

Pricing of Upsized Debt Financing Totalling $2,850 million equivalent ($/EUR)


AMSTERDAM, July 19, 2019 /PRNewswire/ -- Trivium Packaging B.V. ("Trivium") announces that its subsidiary, Trivium Packaging Finance B.V., has priced the following transactions, totalling approximately $2,850 million equivalent ($/EUR):

After swaps, this results in a blended financing cost of approximately 4.8%.

Net proceeds from the issuance and sale of Notes will be used in connection with the transaction announced on July 15, 2019 to combine Ardagh Group's Food & Specialty Metal Packaging business ("Food & Specialty") and the business of Exal Corporation ("Exal").

Paul Coulson, Chairman of Trivium and Chairman and CEO of Ardagh said;
"We are delighted with the support Trivium has received from investors in this upsized debut financing. The combination of Food & Specialty with Exal brings together two highly complementary businesses to create a new global leader in metal packaging. Trivium, backed by Ontario Teachers' and Ardagh, is well-positioned for future success."

Michael Mapes, CEO of Trivium said;
"Trivium is very pleased to have completed this offering. We look forward to closing the transaction and serving our customers with innovative and sustainable metal packaging."

On completion of the combination, Trivium will be a global leader in sustainable and infinitely-recyclable metal packaging, working with many of the world's leading food, beverage, health and beauty and consumer care brands. Trivium will operate 57 facilities in 21 countries, employ almost 8,000 people and have global sales of approximately $2.7 billion. Trivium will be owned 57% by Ontario Teachers' and 43% by Ardagh Group.

The offering of the Notes will be made pursuant to an exemption under the Prospectus Directive, 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.

SOURCE Trivium Packaging


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News published on 19 july 2019 at 17:12 and distributed by: