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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
HYC
MTRL
PRCD
ARGIDARGID
Ardagh Packaging Finance PLC, Ardagh Holdings USA Inc€790
1EMEA
Jun 5, 2020
currency
EUR
size (m)
790.000
maturity
Aug 15, 2026
type
Fixed
tenor
6.170
call
2.17
registration
144A/Reg S
benchmark
-
ranking
-
moody's
B1
s&p
BB
fitch
BB+
size description
-
re-open/tap
No
ipt
95.00-95.50
ipt-pxd
-
guidance
96.00-96.50
spread
325
coupon
2.125%
spread set
-
price
96.50000
yield
2.743%
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
-
joint leads
passive leads
-
co-managers
coordinating managers
-
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
-
joint leads
passive leads
-
co-managers
coordinating managers
-
Tranche Comments
Registration: 144A/Reg S; Comments: 06/05/2020 Ardagh Packaging Finance plc / Ardagh Holdings USA Inc EUR790m (up from EUR350m) 144A/Reg S mirror notes to its 2.125% sr sec notes due 15 August 2026 (6.217y). NC2.17 (15-Aug-2022) (MWC B+50bp), then at 101.063, 100.531, 100. Special Call: 10% at 103 p.a. until 15-Aug-2022. Equity claw: 40% at 102.125% until 15-Aug-2022. B1/BB/BB+ (stable/stable/stable). Via Citi/BNPP/CS joint books, Rabo, STRH as co-managers. No reg rights. NY Law. Settles June 10 (T+3). Reg S ISIN: XS2189356996. Not fungible with the EUR440m issue priced 07/20/19. IPT 95-95.50. Px talk: 96.00-96.50. Final price/upsize: EUR790m at 96.50. Priced: 2.125% at 96.50, yield 2.743%. +325bp vs 1% DBR 08/15/25. Did investor call at 10am UKT 06/05. Books closed at 1:30pm UKT 06/05. UOP: redeem all of its EUR740.7m 2.75% sr sec notes due 03/15/24 (callable at 101.375) (upsize to redeem all of the 2.75% sr sec notes and pay call premium). Biz: supplier of rigid glass and metal packaging. HQ: Dublin, Ireland.;

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