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Ardagh Group S.A. Provides Financing Review Update

BY PR Newswire | CORPORATE | 03/11/25 08:15 AM EDT

LUXEMBOURG, March 11, 2025 /PRNewswire/ -- Ardagh Group S.A. ("Ardagh" or "the Group") has today provided an update in connection with its capital structure review and its recent discussions with certain of the Group's noteholders, comprising a?group owning a majority of the Group's Senior Unsecured Notes (and certain of the Group' Senior Secured Notes) (the "SUN Group"), and a group owning a majority of the Group's Senior Secured Notes (and certain of the Group's Senior Unsecured Notes) (the "SSN Group")

Ardagh Group logo 2019 (PRNewsfoto/Ardagh Group S.A.)

The update sets out certain proposals made by the Group during these discussions. It also sets out proposals received during those discussions from the SUN Group.

No proposals have been agreed between the parties at this time, and the Group's capital structure review is ongoing. The objective of the review is to put a sustainable capital structure in place. Ardagh continues to engage in constructive discussions with the SUN Group and SSN Group of noteholders regarding the terms of a potential restructuring transaction. The Company will provide further updates in due course.

Ardagh recently reported cash and available liquidity of over $1.5 billion at December 31, 2024, and the Group's next notes maturity of $2.5 billion is in August 2026. Ardagh's Glass Packaging operations reported full year 2024 Adjusted EBITDA of $602 million and guided to mid-single digit growth in Adjusted EBITDA in 2025.

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SOURCE Ardagh Group S.A.

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