Guala Closures to sell €500 million minimum senior secured notes

New York, Nov. 2 – Guala Closures SpA announced an offering of at least €500 million of senior secured notes due 2021.

The company will use the proceeds to fund a tender offer for its €275 million of floating-rate senior secured notes due 2019 and by parent company GCL Holdings SCA for its €200 million of 9 3/8% senior notes due 2018.

Any notes not tendered are expected to be redeemed on Dec. 2 using the call provisions in the indenture.

Further details about the new notes were not immediately available.

Credit Suisse Securities (Europe) Ltd. is dealer manager for the tender offer, and the expiration date is Nov. 10.

Guala Closures is an Alessandria, Italy-based manufacturer of closures for beverage containers.

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