(Alliance News) - Paper and packaging firm Smurfit Kappa Group PLC on Monday said it will raise EUR500 million via the issue of senior notes.
The Irish company's unit, Smurfit Kappa Treasury Unlimited Co, will issue the euro-denominated senior notes due 2027.
The FTSE100 listed company intends to use the proceeds from the notes offering, together with cash on hand, to redeem and pay interest on floating notes due 2020 and EUR250 million worth of 3.25% senior notes due 2021.
Redemptions of notes due 2020 and 2021 are anticipated to take place on October 2.
Shares in Smurfit Kappa were up 0.5% at 2,549.60 pence each on Monday morning in London.
Smurfit Kappa (SKG)