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€1bn loan move plan

IRISH packaging giant Ardagh is set to raise $1.53bn (€1.1bn) of debt financing to finance the acquisition of Verallia North America (VNA) from its owner, Saint Gobain, a spokesman for the company announced.

The group will raise $700m (€512m) in a term loan, with a further $830m (€607m) to be raised in senior notes due 2019 and 2021.