2nd Sep 2019 19:09
(Alliance News) - Smurfit Kappa Group PLC on Monday said it has priced an offering of EUR750 million senior notes due 2027.
The notes are priced at par and have a 1.5% coupon. The sale of the notes is set to complete September 16 and has been made by wholly-owned subsidiary Smurfit Kappa Treasury Unlimited Co.
The paper packaging products firm said it was planning the conditional redemption of its senior floating rate notes due 2020 in full and for the conditional redemption of EUR250,000 of its 3.25% senior notes due 2021.
The firm also plans to issue supplemental notice for redemption of another EUR250 million of the 2021 notes, conditional on the 2027 note offering.
Shares in Smurfit Kappa closed down 0.6% at 2,522.00 pence in London on Monday.
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