Businessman Paul Coulson's Ardagh packaging group has moved to refinance up to $1bn worth of debt.
The company, through its subsidiary Ardagh Investments Holdings, has agreed a deal with US alternative asset management firm Apollo Capital.
The new facilities will mature in 2029 and will be secured on assets of Ardagh Investments Holdings, which owns three quarters of Ardagh Metal Packaging, the group’s US listed drinks can business. Following the redemption of the notes due next year, Ardagh will not have any bonds maturing before August of 2026.
"As disclosed previously, Ardagh continues to evaluate options with its capital structure and, together with its affiliates, may seek to further reduce its debt through discounted open market purchases, tender offers, exchange offers, privately negotiated transactions or otherwise," Ardagh said.
Business Ardagh Group Paul Coulson
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