Packaging group may need capital to avoid unsustainable debt

The private equity owners of the Irish packaging group Clondalkin, Warburg Pincus, may need to inject more capital to prevent the company's debt reaching unsustainable levels.

11th March, 2012

The private equity owners of the Irish packaging group Clondalkin, Warburg Pincus, may need to inject more capital to prevent the company's debt reaching unsustainable levels, the credit reporting firm Debtwire has warned.

In a note issued last week, Debtwire said that Clondalkin was coming under pressure to refinance some €411 million of floating rate notes due to mature in 2013, but that weak cash generation meant that debt markets may be unreceptive to a...

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