Reynolds to redeem 5 5/8%, 9 7/8% notes with new term loan proceeds

New York, Sept. 26 – Reynolds Group Holdings Ltd. plans to redeem its 5 5/8% senior notes due 2016 and 9 7/8% senior notes due 2019 using proceeds from $500 million of new senior secured term loans.

The company will also use available cash for the redemptions, according to a news release.

Reynolds launched a fungible $500 million incremental first-lien term loan due February 2023 on Monday morning, a market source told Prospect News.

Reynolds is an Auckland, New Zealand, manufacturer and supplier of consumer food and beverage packaging and storage products.

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