Smurfit Kappa successfully restructures debt

Smurfit Kappa has successfully extended its debt maturities and reduced its 2011 net debt by €358 million, it said in a statement this morning.

29th February, 2012

Smurfit Kappa has successfully extended its debt maturities and reduced its 2011 net debt by €358 million, it said in a statement this morning.

The company received consents in more than 95 per cent of the proposed amendments to its senior credit facility, it said. The minimum required level of consents is 66.66%. Smurfit said that reduced debt in 2011 and the extension provides it with “significantly enhanced financial flexibility”.

“As part of our ongoing capital structure...

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