Smurfit Kappa GrpPLC Statement re Revolving Credit Facility
29 Janvier 2019 - 3:02PM
UK Regulatory
TIDMSKG
Signing of EUR1,350 million Revolving Credit Facility
SKG:IDSKG:LN
Dublin, London, 29 January, 2019: Smurfit Kappa Group plc ('SKG'
or the "Group") is pleased to announce that it has signed an
unsecured EUR1,350 million revolving credit facility ("RCF") with
21 of its existing relationship banks. The facility has an initial
five-year term and may, subject to bank consent, be extended up to
a maximum of seven years at SKG's request. The new RCF will
refinance the Group's existing senior credit facility which matures
in March 2020.
As a continuation of SKG's financing strategy, the new facility
further streamlines the Group's capital structure by facilitating
the concurrent release of substantially all of its subsidiary
guarantees across all of the Group's senior debt funding
arrangements including its senior notes, consistent with typical
large corporates of similar scale and credit profile.
Ken Bowles, Group Chief Financial Officer, commented, "We are
very pleased to have arranged this facility which reflects the
continuing strong support of our relationship banks for the Group
and our strategic direction. This transaction is a continuation of
our proactive financing strategy to reduce the cost and extend the
term of our debt facilities while increasing the flexibility of our
capital structure."
ENDS
Contact
Garrett Quinn FTI Consulting
Smurfit Kappa Group
T: +353 1 202 7180 T: +353 1 765 0800
E: ir@smurfitkappa.com E: smurfitkappa@fticonsulting.com
About Smurfit Kappa
Smurfit Kappa, a FTSE 100 company, is one of the leading
providers of paper-based packaging solutions in the world, with
around 45,000 employees in approximately 350 production sites
across 34 countries and with revenue of EUR8.6 billion in 2017. We
are located in 22 countries in Europe, and 12 in the Americas. We
are the only large-scale pan-regional player in Latin America.
With our pro-active team, we relentlessly use our extensive
experience and expertise, supported by our scale, to open up
opportunities for our customers. We collaborate with
forward-thinking customers by sharing superior product knowledge,
market understanding and insights in packaging trends to ensure
business success in their markets. We have an unrivalled portfolio
of paper-packaging solutions, which is constantly updated with our
market-leading innovations. This is enhanced through the benefits
of our integration, with optimal paper design, logistics,
timeliness of service, and our packaging plants sourcing most of
their raw materials from our own paper mills.
Our products, which are 100% renewable and produced sustainably,
improve the environmental footprint of our customers.
Check out our micrositeopenthefuture.info. Follow us on Twitter
at @smurfitkappa and on LinkedIn at 'Smurfit Kappa'.
smurfitkappa.com
View source version on businesswire.com:
https://www.businesswire.com/news/home/20190129005542/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
January 29, 2019 09:02 ET (14:02 GMT)
Smurfit Kappa (LSE:SKG)
Graphique Historique de l'Action
De Sept 2024 à Oct 2024
Smurfit Kappa (LSE:SKG)
Graphique Historique de l'Action
De Oct 2023 à Oct 2024