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)