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Books on Ardagh high-yield bond reach US$20bn: sources

By Davide Scigliuzzo

NEW YORK, April 29 (IFR) - Investors have piled US$20bn of orders into Ardagh's US$4.5bn dual-currency high-yield bond offering, two sources familiar with the situation told IFR on Friday.

The packaging company is raising funds in euros and US dollars from a five-part deal, which includes secured and unsecured tranches, to finance its acquisition of assets from rivals Ball and Rexam (LSE: REX.L - news) .

Citi is sole bookrunner on the secured tranches and left lead on the unsecured bonds, alongside Barclays (LSE: BARC.L - news) , Goldman Sachs (NYSE: GS-PB - news) and Deutsche Bank (LSE: 0H7D.L - news) .

(Reporting by Davide Scigliuzzo; Editing by Natalie Harrison)