11th Feb 2015 16:27
LONDON (Alliance News) - Smurfit Kappa Group PLC Wednesday said it is offering EUR250 million of senior notes due 2025 in a private placement, with the proceeds to be used to reduce debt.
Smurfit Kappa manufactures paper-based products.
The notes are being issued by Smurfit Kappa Acquisitions, with the proceeds to be used to reduce term-loan borrowings under the subsidiary's senior facilities agreement.
The notes are being offered in a private placement, and there will be no public offering.
The notes priced at par and have a coupon of 2.75%.
Closing of the sale is expected on Monday next week.
By Samuel Agini; [email protected]; @samuelagini
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