COVERIS ANNOUNCES CLOSING OF SALE OF ITS AMERICAS BUSINESS

Chicago, IL, May 1, 2018 – Coveris Holdings S.A. (“Coveris” or “the Company”), a premier global packaging manufacturer, today announced that it has closed the previously announced sale of its Americas packaging business and has satisfied and discharged its obligations under its 77⁄8% senior notes due 2019 (the “Notes”). The date of redemption of the Notes as previously announced will be May 7, 2018.

“We are pleased with the completion of this transaction,” said Jakob Mosser, Chief Executive Officer. “The proceeds of this sale were used to reduce our indebtedness and pay transaction expenses. We greatly reduced our leverage, bolstered our liquidity and enhanced our financial position.”

[Read More]