Reynolds Group Holdings Limited Announces Incremental Term Loans under Senior Secured Credit Facility & Redemptions of Outsta...
26 September 2016 - 11:11PM
Business Wire
Reynolds Group Holdings Limited (“Reynolds Group”) today
announced that it is seeking to incur additional senior secured
term loans under its existing Senior Secured Credit Facility in an
aggregate principal amount of $500 million (the “Incremental Term
Loans”). Reynolds Group intends to use the net proceeds of the
Incremental Term Loans, together with available cash, to redeem or
repurchase outstanding 5.625% Senior Notes due 2016 and 9.875%
Senior Notes due 2019 and to pay related fees and expenses.
About Reynolds Group:
Reynolds Group is a leading global manufacturer and supplier of
consumer food and beverage packaging and storage products. Reynolds
Group is based in Auckland, New Zealand. Additional information
regarding Reynolds Group is available at
www.reynoldsgroupholdings.com.
Forward-Looking Statements:
This press release may contain “forward-looking statements.”
Forward-looking statements include statements regarding the goals,
beliefs, plans or current expectations of Reynolds Group, taking
into account the information currently available to our management.
Forward-looking statements are not statements of historical fact.
For example, when we use words such as “believe,” “anticipate,”
“expect,” “estimate,” “plan,” “intend,” “should,” “would,” “could,”
“may,” “might,” “will” or other words that convey uncertainty of
future events or outcomes, we are making forward-looking
statements. While management has based any forward-looking
statements contained herein on its current expectations, the
information on which such expectations were based may change. These
forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of risks,
uncertainties, and other factors, many of which are outside of our
control that could cause actual results to materially differ from
such statements. Such uncertainties, risks and assumptions include,
but are not limited to: risks related to our ability to consummate
the Incremental Term Loans transaction and complete the
redemptions; risks related to acquisitions, including completed and
future acquisitions, such as the risks that we may be unable to
complete an acquisition in the timeframe anticipated, on its
original terms, or at all, or that we may not be able to achieve
some or all of the benefits that we expect to achieve from such
acquisitions, including risks related to integration of our
acquired businesses; risks related to the future costs of raw
materials, energy and freight; risks related to our substantial
indebtedness and our ability to service our current and future
indebtedness; risks related to our hedging activities which may
result in significant losses and in period-to-period earnings
volatility; risks related to our suppliers of raw materials and any
interruption in our supply of raw materials; risks related to
downturns in our target markets; risks related to increases in
interest rates which would increase the cost of servicing our debt;
risks related to dependence on the protection of our intellectual
property and the development of new products; risks related to
exchange rate fluctuations; risks related to the consolidation of
our customer bases, competition and pricing pressure; risks related
to the impact of a loss of one of our key manufacturing facilities;
risks related to our exposure to environmental liabilities and
potential changes in legislation or regulation; risks related to
complying with environmental, health and safety laws or as a result
of satisfying any liability or obligation imposed under such laws;
risks related to changes in consumer lifestyle, eating habits,
nutritional preferences and health-related and environmental
concerns that may harm our business and financial performance;
risks related to restrictive covenants in the Notes and our other
indebtedness which could adversely affect our business by limiting
our operating and strategic flexibility; risks related to our
dependence on key management and other highly skilled personnel;
and risks related to pension plans.
Given these risks and uncertainties, you are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date hereof. Except as required by law, we
undertake no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise. All subsequent written and oral
forward-looking statements attributable to us or to persons acting
on our behalf are expressly qualified in their entirety by the
cautionary statements referred to above.
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version on businesswire.com: http://www.businesswire.com/news/home/20160926005825/en/
Reynolds Group Holdings LimitedJoseph E. Doyle,
+1-847-482-2409enquiries@reynoldsgroupholdings.com