By Paul A. Harris
St. Louis, Feb. 23 - Caono plc (Ardagh Glass holding company) sold $126.25 million face amount of 10¾% 10-year senior cash or PIK notes at 99 on Wednesday to yield 10.917%, according to an informed source.
Price talk was 10¾% to 11%.
The coupon may be cash pay or pay in kind at the issuer's discretion.
BNP Paribas and Citigroup ran the books for the Regulation S-only issue.
Proceeds will be used to make a contribution to Ardagh Glass and to repay minorities.
Ardagh Glass is a Dublin, Ireland-based glass container manufacturer.
| Issuer: | Caono plc (Ardagh Glass holding company)
|
| Face amount: | $126.25 million
|
| Maturity: | March 1, 2015
|
| Security description: | Senior cash or PIK notes
|
| Bookrunners: | BNP Paribas, Citigroup
|
| Coupon: | 10¾% cash pay or pay-in-kind at issuer's discretion
|
| Price: | 99.00
|
| Yield: | 10.917%
|
| Call features: | Callable after March 1, 2007 at 102, 101, par on and after March 1, 2009
|
| Trade date: | Feb. 23
|
| Settlement date: | March 4
|
| Ratings: | Moody's: B3
|
| Standard & Poor's: B+
|
| Price talk: | 10¾%-11%
|
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