Business Irish

Monday 19 August 2019

Big appetite: Trivium links food business with Exal

‘Delight’: Paul Coulson will chair the new business Trivium Packaging. Photo: Jason Clarke
‘Delight’: Paul Coulson will chair the new business Trivium Packaging. Photo: Jason Clarke
Independent.ie

Independent.ie

Trivium Packaging Finance, a subsidiary of Trivium Packaging, has priced $2.85bn (€2.5bn) of debt.

Last week Paul Coulson-headed Ardagh combined its food and speciality metal packaging business with Exal Corporation, creating Trivium Packaging.

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The group on Friday issued four senior notes, both secured and unsecured, at various interest rates. It is understood the financing was eight times over-subscribed.

Proceeds from the issuance and sale of the notes will be used to combine Ardagh's food business with Exal's.

Mr Coulson, who will be chairman of Trivium, said: "We are delighted with the support Trivium has received from investors."

United States-based Exal is controlled by Ontario Teachers' Pension Plan Board. It will own 57pc of Trivium, with 43pc by the Ardagh Group.

Trivium will employ almost 8,000 people with global sales of approximately €2.4bn.

Irish Independent

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