Reynolds Group to bring $1.1 billion, €450 million seven-year secured notes via Credit Suisse

By Paul A. Harris

St. Louis, Oct. 15 - Reynolds Group will start a roadshow during the Oct. 19 week for its $1.8 billion equivalent two-part offering of seven-year senior secured notes, according to an informed source.

The planned tranche sizes are $1.1 billion and €450 million and are subject to change.

The full roadshow will during the Oct. 19 week, as well as the week of Oct. 26. Pricing is expected late in the week of Oct. 26.

Credit Suisse is the bookrunner for the deal, which comes to market via Rule 144A and Regulation S, with registration rights.

The notes come with perfected security comprising mortgages, fixed and floating-rate charges over substantially all assets of each guarantor and borrower.

The notes will come with three years of call protection.

Proceeds will be used to fund the acquisition of Reynolds Consumer Products by Beverage Packaging Holdings (Luxembourg) III SA, the parent company of SIG Holding AG, and to refinance SIG's term loan.

Reynolds is a Richmond, Va., manufacturer of consumer packaging and wraps.

SIG is a Neuhausen am Rheinfall, Switzerland-based packaging machinery manufacturer.

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