New Issue: Ardagh Glass prices €300 million 9¼% seven-year notes at 98.116 to yield 9 5/8%

By Paul A. Harris

St. Louis, June 19 - Ardagh Glass Finance plc priced a €300 million issue of 9¼% seven-year first-priority senior secured notes (Ba3/BB/) at 98.116 to yield 9 5/8% Friday morning in London, according to an informed source.

The yield was printed at the wide end of the 9½% to 9 5/8% price guidance.

Citigroup ran the books.

Proceeds will be used to repay existing senior debt and for general corporate purposes.

Ardagh is a Dublin, Ireland-based glass container manufacturer.

Issuer:	Ardagh Glass Finance plc
Face amount:	€300 million
Proceeds:	€294.348 million
Maturity:	July 1, 2016
Security description:	First-priority senior secured notes
Bookrunner:	Citigroup
Co-manager:	Davy Securities
Coupon:	9¼%
Price:	98.116
Yield:	9 5/8%
Call features:	Make-whole at Bunds plus 50 bps until July 1, 2013, then callable at 104.625, 102.313, par on and after July 1, 2015
Equity clawback:	35% at 109.25 until July 1, 2012
Trade date:	June 19
Settlement date:	June 26
Ratings:	Moody's: Ba3
	Standard & Poor's: BB
Distribution:	Rule 144A/Regulation S
Price talk:	9½% to 9 5/8%

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