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Ardagh makes call for 4¼% notes, contingent call for floaters due 2021
By Susanna Moon
Chicago, June 2 – Ardagh Packaging Finance plc and Ardagh Holdings USA Inc. issued a redemption notice for their €405 million principal amount of outstanding 4¼% first-priority senior secured notes due 2022.
The issuers also issued a contingent call for their $500 million principal amount of senior secured floating-rate notes due 2021, which will be redeemed on June 12, according to a company notice.
The 4¼% notes will be redeemed on Aug. 1 at a total redemption price of €422,977,500, or par plus a call premium of €8,606,250 and additional amounts as well as accrued interest to the redemption date of €9,371,250, of which €8,606,250 will be paid on the next interest payment date of July 15, according to a separate company notice.
The record date will be July 31 for the 4¼% notes.
For the floaters, the redemption price will be $511,723,470, or par plus a call premium of $10 million and additional amounts as well as accrued interest of $1,723,470.
The record date will be June 11 for the floaters.
The call for the floaters includes a financing condition that states the issuer must secure funds to redeem the notes before the redemption date.
Citibank, NA, London Branch is the trustee, principal paying agent, transfer agent and security agent. Citibank, NA is the U.S. paying agent. Citigroup Global Markets Deutschland AG is the registrar.
The 4¼% notes were issued on July 3, 2014, and the floaters were issued on May 16, 2016.
The issuer is a Dublin-based supplier of glass and metal packaging.
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