Smurfit Kappa sets pricing in tenders for 9 5/8%, 10 1/8% notes

By Jennifer Chiou

New York, April 11 - Smurfit Kappa Funding plc (formerly JSG Funding plc) set pricing terms for tender offers for up to $208 million of its $280.117 million of 9 5/8% senior notes due 2012 and up to €98 million of its €131.07 million of 10 1/8% senior notes due 2012, according to a 6-K report filed with the Securities and Exchange Commission.

Smurfit Kappa said it will pay $1,064.20 per $1,000 principal amount of 9 5/8% notes tendered and €1,073.90 per €1,000 principal amount of 10 1/8% notes tendered.

The tender consideration includes an early tender payment of $20.00 or €20.00 for notes tendered before noon ET on April 5.

The offers end at noon ET on April 23.

Deutsche Bank AG, London Branch is the dealer manager (44 20 7545 8011). D.F. King & Co., Inc. is the information agent (call collect 212 269-5550 or 800 859-8511).

Smurfit Kappa is a subsidiary of Smurfit Kappa plc, a Dublin, Ireland-based producer of paper-based packaging.

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