By Lisa Kerner
Charlotte, N.C., May 8 – Orora Ltd. announced it plans to raise $250 million of debt in the U.S. private placement market.
The company accepted bids from investors to issue $100 million of eight-year notes and $150 million of 10-year notes, with funding slated for July.
Orora said the funds will remain in U.S. dollars.
Proceeds will be used to replace outstanding drawn borrowings under existing bank debt facilities maturing in December 2016 and 2018 and for general corporate purposes, according to a company news release.
The packaging company is based outside of Melbourne, Australia.
| Issuer: | Orora Ltd.
|
| Issue: | Notes
|
| Amount: | $150 million
|
| Term: | Eight years for $100 million and 10 years for $150 million
|
| Announced: | May 1
|
| Settlement: | July
|
| Distribution: | Private placement
|
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