Jefferson Smurfit 900 million euros notes possible in early September

By Paul A. Harris

St. Louis, Mo., Aug. 29 - Jefferson Smurfit Group plc is eyeing an early September launch of €900 million equivalent of notes due 2012, according to a syndicate source. The deal will include dollar, sterling and euro tranches.

The source added that timing depends upon final regulatory approval of the sale of the company.

Deutsche Bank Securities Inc. and Merrill Lynch & Co. are joint leads.

The notes will be non-callable for five years.

Proceeds will be used to help fund the acquisition of the company by Madison Dearborn Parnters.

As part of acquisition Jefferson Smurfit Group is spinning off to its shareholders its approximately 29.3% stake in its US subsidiary Smurfit-Stone Container Corp. Madison Dearborn's purchase terms do not include the acquisition of Jefferson Smurfit Group's Smurfit-Stone Container stake.

The company is a paper and corrugated packaging producer headquartered in Dublin, Ireland.

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