Reynolds Group pricing $1 billion eight-year secured notes

By Paul A. Harris and Aleesia Forni

Columbus, Ohio, Sept. 14 - Reynolds Group Issuer Inc. and Reynolds Group Issuer (Lux.) SA are pricing $1 billion senior secured notes due 2020 on Friday, according to a market source.

Credit Suisse is the bookrunner for the Rule 144A with registration rights transaction.

The notes are callable in three years at par plus 75% of the coupon.

Proceeds will be used to refinance bank debt.

An investor call took place at 10:30 a.m. ET.

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

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