Smurfit Kappa GrpPLC Statement re Result of Consent Solicitation
February 23 2018 - 2:00AM
UK Regulatory
TIDMSKG
Smurfit Kappa Announces Results of Consent Solicitation Relating
to the
4.875% Senior Notes due 20185.125% Senior Notes due 2018Floating
Rate Senior Notes due 20204.125% Senior Notes due 2020and the3.25%
Senior Notes due 2021(together, the "Notes")
DUBLIN, Ireland - February 23, 2018 - Smurfit Kappa Group plc
("Smurfit Kappa") announced today the results of the previously
announced consent solicitation through which its wholly-owned
subsidiary, Smurfit Kappa Acquisitions (the "Issuer"), solicited
consents ("Consents") from registered holders ("Holders") of the
Notes (the "Consent Solicitation") to amend certain terms of the
indentures governing the Notes (each, an "Indenture" and, together,
the "Indentures"). Adoption of the amendment with respect to each
Indenture required the consent of holders of a majority in
principal amount of the Notes outstanding subject to the Indentures
(the "Requisite Consents").
The Consent Solicitation expired at 4:00 P.M., London time,
11:00 A.M., New York City time, on February 22, 2018 (the
"Expiration Date"). As of the Expiration Date, the Issuer had
received Consents from over 85% in aggregate principal amount of
the outstanding Notes, including Consents from a majority in
principal amount of each series of the Notes outstanding subject to
the Indentures.
Having obtained the Requisite Consents, the amendment to the
Indentures was effected by way of supplemental indentures to the
relevant Indentures. As a result, revocation rights with respect to
each series of Notes have been terminated. A Holder of Notes who
delivered a valid, unrevoked Consent on or prior to the Expiration
Date is entitled to a one-time cash payment (each a "Consent Fee",
and together the "Consent Fees"). The Consent Fee will equal
EUR2.50 for each EUR1,000 principal amount of euro-denominated
Notes and $2.50 for each $1,000 principal amount of
dollar-denominated Notes. The Consent Fees are expected to be paid
on February 27, 2018.
The Issuer has retained Citigroup to act as solicitation agent
and Lucid Issuer Services Limited to act as information agent for
the Consent Solicitation. Requests for documents may be directed to
Lucid Issuer Services Limited at +44 (0) 20 7704 0880 or by email
to smurfit@lucid-is.com. Questions regarding the Consent
Solicitation may be directed to Citigroup at +442079868969 or by
email to liabilitymanagement.europe@citi.com.
This announcement is for information purposes only and does not
constitute an offer to purchase Notes, a solicitation of an offer
to sell Notes or a solicitation of Consents of Holders of the Notes
and shall not be deemed to be an offer to purchase, a solicitation
of an offer to sell or a solicitation of consents with respect to
any securities of Smurfit Kappa, the Issuer, or their respective
subsidiaries or affiliates.
View source version on businesswire.com:
http://www.businesswire.com/news/home/20180223005086/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
February 23, 2018 03:00 ET (08:00 GMT)
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