LONDON (ShareCast) - (Sharecast News) - Smurfit Kappa Group announced an offering by one of its wholly-owned subsidiaries, Smurfit Kappa Acquisitions Unlimited Company, of €500m of euro denominated senior notes due 2026 on Monday.
The FTSE 100 packaging giant said it intended to use the proceeds from the offering to fund the previously-announced acquisition of Reparenco Holding in the event all of the conditions to the acquisition were satisfied, and the acquisition was completed.

Any remaining net proceeds would be used for general corporate purposes, which could include repaying certain existing indebtedness, the board explained.

It said the offering was not conditional upon the completion of the acquisition.

"The notes are being offered in a private placement and there will be no public offering of the notes," Smurfit Kappa's board said in its statement.

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