REG-Smurfit Kappa Group PLC Statement re Revolving Credit Facility

Smurfit KappaAnnouncement

29/01/2019 14:05

      Statement re Revolving Credit Facility
    

    

      Signing of €1,350 million Revolving Credit Facility
    

      SKG:ID SKG:LN
    

      Dublin, London, 29 January, 2019: Smurfit Kappa Group plc (‘SKG’ 
      or the “Group”) is pleased to announce that it has signed an unsecured 
      €1,350 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
          
          

            Smurfit Kappa Group
          
          

             
          
          

            T: +353 1 202 7180
          
          

            E: ir@smurfitkappa.com
          
        
        

           
        
        

          

            FTI Consulting
          
          

             
          
          

             
          
          

            T: +353 1 765 0800
          
          

            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 €8.6 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 microsite openthefuture.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/

      Smurfit Kappa Group PLC