Ardagh to sell $2.85 billion equivalent bonds backing acquisitions

By Paul A. Harris

Portland, Ore., April 25 – Ardagh Group announced in a Monday press release that it plans to issue $2.85 billion equivalent of bonds to help finance the acquisition of assets from Ball Corp. and Rexam plc.

The offer will include $2 billion equivalent of secured bonds and $850 million equivalent of unsecured bonds.

The bonds will be sold in dollar- and euro-denominated tranches, with tranche sizes remaining to be determined, market sources said.

Bookrunners have not yet stepped forward. However look for Citigroup to be involved, a sellside source said.

The deal will likely be marketed on an investor roadshow, the sellsider said.

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

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