Ardagh hedges dollar rate risk with sterling debut

Industrial Packaging
By Victor Jimenez
05 Jun 2017

Packaging maker Ardagh Group will repay its 2021 dollar floater with a £400m sterling bond printed on Friday, following heavy oversubscriptions of recent sterling deals.

Ardagh’s first sterling bond is a 10 year non-call five senior unsecured issue with B3/B ratings. It came at 4.75%.

“We are very pleased with the support we have received from a broad investor base in our first sterling bond issue,” said Ardagh chairman Paul Coulson in a statement ...

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