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October 31, 2019

Completion of Food & Specialty Combination to form Trivium Packaging (“Trivium”)

Luxembourg (October 31, 2019) – Ardagh Group (“Ardagh”) announces that it has today completed the combination of its Food & Specialty Metal Packaging business with the business of Exal Corporation, to form Trivium Packaging (“Trivium”), as outlined in its announcement of July 15, 2019. Ardagh will hold a stake of approximately 43 per cent in Trivium and received $2.5 billion in cash proceeds, subject to customary completion adjustments.

Following completion of the transaction, and in accordance with the July 15, 2019 announcement, Ardagh has today

  • Issued Conditional Redemption Notices in respect of its €440,000,000 4.125% Senior Secured Notes due 2023 and its $1,000,000,000 4.625% Senior Secured Notes due 2023.
  • Issued tender offers, at par, in respect of its $715,000,000 4.250% Senior Secured Notes due 2022, €750,000,000 2.750% Senior Secured Notes due 2024, €440,000,000 2.125% Senior Secured Notes due 2026 and $500,000,000 4.125% Senior Secured Notes due 2026 (the “Excess Proceeds Offer”). The Excess Proceeds Offer is expected to expire at 4:00 p.m. (London Time) on November 28, 2019. The announcement date is expected to be November 29, 2019 and the payment date is expected to be December 2, 2019.
  • Issued a Conditional Redemption Notice in respect of its €750,000,000 6.750% Senior Notes due 2024.

For more information please visit ardaghgroup.com

Further information

Media
Murray Consultants
pwalsh@murraygroup.ie
+1 646 776 5918 / +353 87 2269345

Investors
John Sheehan
john.sheehan@ardaghgroup.com

Excess Proceeds Offer
Lucid Issuer Services Limited
+44 207 704 0880
ardagh@lucid-is.com


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