Clondalkin to refi bonds through new dollar loans

Clondalkin, the Netherlands-based packaging group, will refinance its outstanding high yield bonds through dollar-denominated loans, although market expectations had been for a new bond issue.

  • 13 May 2013

The group plans to raise $455m from a $350m first lien term loan due 2020 and a $105m second lien term loan due 2021. The facilities come alongside a $35m revolving credit facility due 2018, which Standard & Poor’s expects to remain undrawn.

With the loans, €85m of cash, ...

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