ARD - Ardagh Group Announces Redemption of $440 million 6.000% Senior Notes Due 2021
LUXEMBOURG, July 9, 2018 /PRNewswire/ -- Ardagh Group S.A. ("Ardagh") has today called for redemption in full of its $440 million 6.000% Senior Notes due 2021. The redemption date will be July 31, 2018.
Following this redemption, Ardagh will have no debt maturing before September 2022. The Group's average debt maturity will be six years, with an average coupon of less than 5.0% and over 90% of gross debt at fixed rates.
In the past eighteen months, Ardagh will have applied $1.2 billion of cash generated from operations, IPO proceeds and available liquidity to repay fixed-term debt. The Group remains focused on de-leveraging over the seasonally more cash generative second half of 2018.
About Ardagh
Ardagh Group is a global leader in metal and glass packaging solutions, producing packaging for most of the world's leading food, beverage and consumer brands. It operates 108 facilities in 22 countries, employing approximately 23,300 people and has global sales of approximately $8.6 billion.
Forward-Looking Statements
This press release includes "forward-looking statements". Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
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SOURCE Ardagh Group S.A.