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SKG - Pricing of a Senior Secured Notes Offering

​Dublin, London, 5 September 2012 


Smurfit Kappa Group plc (the "Group") one of the world’s largest integrated manufacturers of paper-based packaging products, with operations in Europe and Latin America, today announced that it had successfully completed the pricing of an offering of approximately €440 million equivalent of senior secured notes to be issued by its wholly owned subsidiary Smurfit Kappa Acquisitions.   

The net proceeds of the offering will be used to repay all of the existing 7.75% senior subordinated notes due 2015 that were issued by Smurfit Kappa Funding plc on 31 January 2005 and to pay certain fees and expenses related to the offering. Any excess proceeds will be used to repay term loans outstanding under the Group's senior credit facility. The notes are being offered in a private placement and there will be no public offering of the notes.

The notes will be issued in two series: €200 million of euro denominated senior secured notes due 2018 and $300 million of U.S. dollar senior secured notes due 2018. The notes priced at issue prices of 100% plus accrued interest, if any, from 12 September 2012 and yields of 5.125% and 4.875%, respectively. The closing of the sale of the notes is scheduled to be completed on 12 September 2012, and is subject to customary conditions.

THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF SMURFIT KAPPA ACQUISITIONS. NOT FOR DISTRIBUTION OR RELEASE IN OR INTO ANY JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW

 

Smurfit Kappa Bond Pricing Release 5 Sep 2012.pdfSmurfit Kappa Bond Pricing Release 5 Sep 2012.pdf

​Forward Looking Statements

Some statements in this announcement are forward-looking.

They represent expectations for the Group’s business, and involve risks and uncertainties.

These forward-looking statements are based on current expectations and projections about future events.

The Group believes that current expectations and assumptions with respect to these forward–looking statements are reasonable.

However, because they involve known and unknown risks, uncertainties and other factors, which are in some cases beyond the Group’s control, actual results or performance may differ materially from those expressed or implied by such forward-looking statements.

SKG - Pricing of a Senior Secured Notes Offering