Ardagh to sell $300 million and €185 million seven-year PIK notes

By Paul A. Harris

Portland, Ore., May 10 - Ireland's Ardagh Group SA will begin roadshow presentations on Wednesday in the United States and London for its $300 million and €185 million offerings of seven-year payment-in-kind notes, according to an informed source.

Citigroup Global Markets Inc. has the books for the Rule 144A and Regulation S for life deal.

The notes, which are being issued via special purpose vehicle ARD Finance SA, come with three years of call protection.

The Dublin, Ireland-based supplier of glass and metal packaging plans to use the proceeds to refinance its existing senior PIK notes and return capital to its shareholders.

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