Ardagh to pay down $300 million term loan via proceeds of new notes

By Rebecca Melvin

New York, April 3 – Ardagh Group SA plans to use proceeds from a $500 million offering of five-year notes to repay in full a $300 million term loan credit facility, according to a press release.

The term loan, entered into on March 20 and drawn on March 23, is used for general corporate purposes.

By way of a trading update, Ardagh said it expects to report adjusted EBITDA for the first quarter in line with its guidance of $270 million, with no material impact from the outbreak of Covid-19 during the quarter.

Ardagh is a metal and glass packaging company based in Luxembourg.

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