Reynolds needs amendment to proceed with Pactiv bid

Reynolds Group Holdings, the food packaging company owned by New Zealand’s Rank Group that has grown fast through leveraged acquisitions, will finance its latest purchase — Pactiv — with roughly $1.5bn of loans and $3.5bn in high yield bonds.

  • 10 Sep 2010
Reynolds Group is buying its US rival for $6bn. ANZ Bank, Credit Suisse and HSBC are the bookrunners on the financing which consists of a $500m term loan ‘A’ and a $1bn term loan ‘B’. The acquisition is also expected to be financed with $2bn of senior secured ...

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2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

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3 JPMorgan 92,612.23 269 8.71%
4 Wells Fargo Securities 82,597.19 239 7.77%
5 Credit Suisse 69,442.99 183 6.53%