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REG-Smurfit Westrock plc Smurfit Westrock Announces Final Results of Exchange Offers for Senior Notes

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Smurfit Westrock Announces Final Results of Exchange Offers for Senior Notes

 

Smurfit Westrock plc (NYSE: SW, LSE: SWR) (together with its subsidiaries,
“Smurfit Westrock” or the “Group”), a global leader in sustainable
packaging, announced today the final results of the Group’s offers to
exchange certain of the Group’s outstanding unregistered notes for new
registered notes (the “Exchange Offers”).

Under the Exchange Offers, (a) Smurfit Kappa Treasury Unlimited Company
(“SKT”), a wholly owned indirect subsidiary of Smurfit Westrock plc,
offered to exchange all of its outstanding (i) $750,000,000 aggregate
principal amount of 5.200% Senior Notes due 2030 (the “Original 2030
Notes”), (ii) $1,000,000,000 aggregate principal amount of 5.438% Senior
Notes due 2034 (the “Original 2034 Notes”) and (iii) $1,000,000,000
aggregate principal amount of 5.777% Senior Notes due 2054 (the “Original
2054 Notes”, and, together with the Original 2030 Notes and the Original
2034 Notes, the “Original SKT Notes”) which were originally issued in a
private placement on April 3, 2024, for a like principal amount of new issues
of (i) 5.200% Senior Notes due 2030 (the “New 2030 Notes”), (ii) 5.438%
Senior Notes due 2034 (the “New 2034 Notes”) and (iii) 5.777% Senior Notes
due 2054 (the “New 2054 Notes” and, together with the New 2030 Notes and
New 2034 Notes, the “New SKT Notes”), the issuance of which has been
registered under the Securities Act of 1933, as amended (the “Securities
Act”) and (b) Smurfit Westrock Financing Designated Activity Company, a
wholly owned direct subsidiary of Smurfit Westrock plc, offered to exchange
all of its outstanding $850,000,000 aggregate principal amount of 5.418%
Senior Notes due 2035 (the “Original SWF Notes”, and together with the
Original SKT Notes, the “Original Notes”) which were originally issued in
a private placement on November 26, 2024, for a like principal amount of a new
issue of 5.418% Senior Notes due 2035 (the “New SWF Notes” and, together
with the New SKT Notes, the “New Notes”), the issuance of which has been
registered under the Securities Act.

The Exchange Offers expired at 5:00 p.m. New York City time, on May 21, 2025
(the “Expiration Date”). Based on information provided by Deutsche Bank
Trust Company Americas, the exchange agent for the Exchange Offers, as of the
Expiration Date, (i) $745,486,000, or 99.40%, of the aggregate principal
amount of Original 2030 Notes, (ii) $996,905,000, or 99.69%, of the aggregate
principal amount of Original 2034 Notes, (iii) $996,770,000, or 99.68%, of the
aggregate principal amount of Original 2054 Notes and (iv) $848,660,000, or
99.84%, of the aggregate principal amount of Original SWF Notes had been
validly tendered and not validly withdrawn.

The Group accepted all of the Original Notes which were validly tendered and
not validly withdrawn as of the Expiration Date and will issue a like
principal amount of New Notes in exchange for such Original Notes. The Group
will not receive any proceeds from the Exchange Offers. The settlement of the
Exchange Offers is expected to occur on May 23, 2025.

About Smurfit Westrock

Smurfit Westrock is a leading provider of paper-based packaging solutions in
the world, with approximately 100,000 employees across 40 countries.

www.smurfitwestrock.com
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.smurfitwestrock.com&esheet=54258944&newsitemid=20250522002405&lan=en-US&anchor=www.smurfitwestrock.com&index=1&md5=325c82d0239f3752c889d6d2bffc3300)

Ciarán Potts

Smurfit Westrock

T: +353 1 202 71 27

E: ir@smurfitwestrock.com (mailto:ir@smurfitwestrock.com)



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