Smurfit Westrock Closes Senior Notes Offerings

MT Newswires Live11-27

Smurfit Westrock (SW) said Wednesday it closed three senior notes offerings that were offered via a private placement as green bonds.

The packaging company said it closed a US dollar-denominated offering of $850 million in senior notes due 2035, as well as dual-tranche Euro-denominated offering consisting of 600 million euros ($632 million) of notes due 2032 and 600 million euros of notes due 2036.

Smurfit said the 2035 notes were priced at 99.988% and have a 5.418% coupon, the 2032 notes were priced at 100% and have a 3.454% coupon and the 2036 notes were priced at 100% and have a 3.807% coupon.

Smurfit said it intends to use the net proceeds from the offering to redeem outstanding $750 million in 4.65% senior notes due 2026, and another outstanding 1 billion euros in 2.875% senior notes due 2026, and for general corporate purposes.

Shares were 1% lower in recent premarket activity.

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