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Completion of Food & Specialty Combination to form Trivium Packaging ("Trivium")

LUXEMBOURG, Oct. 31, 2019 /PRNewswire/ -- Ardagh Group ("Ardagh") announces that it has today completed the combination of its Food & Specialty Metal Packaging business with the business of Exal Corporation, to form Trivium Packaging ("Trivium"), as outlined in its announcement of July 15, 2019. Ardagh will hold a stake of approximately 43 per cent in Trivium and received $2.5 billion in cash proceeds, subject to customary completion adjustments.

Ardagh Group logo 2019 (PRNewsfoto/Ardagh Group S.A.)

Following completion of the transaction, and in accordance with the July 15, 2019 announcement, Ardagh has today

  • Issued Conditional Redemption Notices in respect of its €440,000,000 4.125% Senior Secured Notes due 2023 and its $1,000,000,000 4.625% Senior Secured Notes due 2023.
  • Issued tender offers, at par, in respect of its $715,000,000 4.250% Senior Secured Notes due 2022, €750,000,000 2.750% Senior Secured Notes due 2024, €440,000,000 2.125% Senior Secured Notes due 2026 and $500,000,000 4.125% Senior Secured Notes due 2026 (the "Excess Proceeds Offer"). The Excess Proceeds Offer is expected to expire at 4:00 p.m. (London Time) on November 28, 2019. The announcement date is expected to be November 29, 2019 and the payment date is expected to be December 2, 2019.
  • Issued a Conditional Redemption Notice in respect of its €750,000,000 6.750% Senior Notes due 2024.

For more information please visit ardaghgroup.com  

Ardagh Group is a global supplier of infinitely recyclable, metal and glass packaging for the world's leading brands. Ardagh operates more than 50 metal and glass production facilities in
12 countries across three continents, employing over 16,000 people with sales of $7bn.

This press release contains statements that may constitute "forward-looking statements" within the meaning of applicable securities legislation. These forward-looking statements include, among others, statements specifically related to the intention to purchase Notes. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements are based on current plans, estimates and projections, and are subject to inherent risks, uncertainties and other factors which could cause actual results to differ materially from the future results expressed or implied by such forward looking statements. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits Ardagh will derive therefrom.

Any forward looking statements made in this press release speak only as of the date hereof. Ardagh does not intend to publicly update or revise these forward looking statements to reflect events or circumstances after the date of this press release, and does not assume any responsibility to do so.


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