Dublin, London, 23 January 2013
Smurfit Kappa today announces that it has successfully completed the pricing of an upsized offering of €400 million of senior secured notes due 2020 to be issued by its wholly owned subsidiary Smurfit Kappa Acquisitions.
The net proceeds of the offering will be used to prepay a portion of the term loans outstanding under SKG's senior credit facility and to pay certain fees and expenses related to the offering.
The notes are being offered in a private placement, and there will be no public offering of the notes. The notes will be offered and sold only to qualified institutional buyers in accordance with Rule 144A under the U.S. Securities Act and to non-U.S. persons outside the United States in accordance with Regulation S under the Securities Act of 1933, as amended (the "U.S. Securities Act").
The notes priced at an issue price of 100 percent and at an interest rate of 4.125%. The closing of the sale of the notes is scheduled to be completed on 28 January 2013, and is subject to customary conditions.
Full press release