Smurfit Kappa looks to wrap up amendment

June 10, 2009 12:00 am

Smurfit Kappa, the Irish packaging group, has asked its lenders to agree to an amendment to its senior facilities, including increasing the headroom on its leverage and interest cover covenants. Among the incentives offered are a consent fee of 75bp, and an increase in margins of between 125bp to 150bp. Smurfit says many of its lenders have already pledged support to the changes, but read EuroWeek on Friday for the full reaction to the latest amendment to hit the leveraged loan market.

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