Ardagh Group to launch $675 million equivalent term B on Wednesday

By Sara Rosenberg

New York, Dec. 3 - Ardagh Group is set to hold a bank meeting at 10:30 a.m. ET in New York on Wednesday to launch a $675 million equivalent six-year senior secured term loan B, according to a market source.

The B loan will have a dollar and euro component, the source said.

Citigroup Global Markets Inc. is the lead bank on the deal.

Proceeds will be used to repay in full the 9¼% first priority senior secured notes due 2016 issued by Ardagh Glass Finance plc and for general corporate purposes.

Ardagh is a Dublin-based supplier of glass and metal packaging.

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