Smurfit Kappa Acquisitions Offering Are Used to Prepay Portion of Term Loans Outstanding

In a statement, Smurfit Kappa said that the net proceeds of the Smurfit Kappa Acquisitions offering will be used to prepay a portion of the term loans outstanding under the parent company’s senior credit facility. It will also be used to pay certain fees and expenses related to the offering.

The notes are being offered in a private placement, and there will be no public offering of the notes, Smurfit Kappa. The notes will be offered and sold only to qualified institutional buyers.

The company also said that it currently expects to report revenue, earnings and net debt for 2012 in line “with those items that we reported for the year ended 31 December 2011”.