Reynolds Group’s subsidiaries have issued senior notes worth $2.5 billion in two parts in the 144a private placement market, Reuters reports. The $1.5 billion notes sold in the first trance carry a coupon rate of 7.875%, while the $1 billion notes sold in the second tranche carry a coupon rate of 9.875%. The notes sold in both the tranches will mature on Aug. 15, 2019. The units of the global manufacturer and supplier of consumer food and beverage packaging and storage products initially planned to sell $2 billion in notes. Credit Suisse and HSBC were the joint bookrunners for the sale.
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