Ardagh Group
Ardagh creditors-turned-owners tap turnaround veteran for chairman as Coulson exits
Ardagh’s senior secured bondholders have agreed to extend the terms of their bonds to 2030
Ardagh seen torching riskiest bonds through courts as consent route fails
Holders of Ardagh’s senior bonds have backed a major debt restructuring plan
Ardagh Metal raises profit forecast again as bondholders prepare to take charge
Paul Coulson is preparing to cede control of Ardagh Metal Packaging and its parent, Ardagh Group, in debt restructuring
Johnny Sexton joins private equity firm Exponent
Former Irish rugby captain to take role in addition to coaching
Paul Coulson: The high-wire financier who cut his teeth restructuring the Trinity Ball
Irish financier to leave business he built up
Paul Coulson to get €108m payment from Ardagh creditors to cede control of group
Debt restructuring will see senior unsecured bondholders and holders of high-risk PIK notes swap $4.2bn of debt for equity in Ardagh Group
Coulson nears $300m deal to walk away from debt-laden Ardagh
Debt restructuring talks with bondholders reach pivotal point
Meet Paul ‘the Cooler’ Coulson: One of the godfathers of leveraged finance
Coulson is negotiating hard with creditors of Ardagh on a payoff for shareholders in return for walking away from the highly-leveraged packaging giant
Irish mogul Paul Coulson insists on $300m to walk away from Ardagh
Paul Coulson in talks over restructuring packaging business saddled with $10bn of debt built up in era of cheap money
Paul Coulson faces last stand in battle to retain control of Ardagh
Bondholders have offered Coulson and other investors $250m to hand over total control of the empire
Paul Coulson offered $250m to walk away from Ardagh amid crunch debt talks
Deal would see businessman cede control of glass and metal containers giant
Ardagh talks with creditor group break down over improving cans unit
Packaging giant built by Paul Coulson ‘remains committed to putting in place a sustainable capital structure’
Ardagh cans unit ‘turns corner’ amid Coulson bid to keep control
Ardagh Group continues talks with bondholders on restructuring its estimated $12.5 billion debt
Ardagh says claim by bond investors ‘without merit’
Firm is in negotiations over possible debt restructuring
Hedge funds claim Ardagh debt plan ‘siphons’ value to Coulson
Ardagh says it ‘strongly refutes the complaint and believes it is without merit’
Ardagh in talks to hand control of glass business to bondholders
Negotiations come as firm seeks to reduce debt pile
Ireland faces EU bill of up to €26bn if it misses climate targets
The best news, analysis and comment from The Irish Times business desk
Ardagh financial engineering ‘poster child’ as battle for control looms, says analyst CreditSights
Packaging group says it has invested more than $3.5bn in assets since 2021
Ardagh warns of risks to its ability to continue as going concern amid debt restructuring talks
Ardagh Group had net borrowings of $10.5 billion at the end of December
Johnny Sexton prepares for crunch test as his new employer faces off with bondholders
Paul Coulson’s glass and cans business was built on the back of junk bond debt but rising rates and volatile glass bottle markets have left it debt heavy
Ardagh Group’s biggest shareholder, chair and financial chief quit funding company’s board
The best news, analysis and comment from The Irish Times business desk
Coulson quits Ardagh unit with riskiest bonds as restructuring looms
Bonds issued by ARD Finance are currently trading as low as 9.5 cent on the dollar
Ardagh enlists restructuring experts to board as it looks to cut €12bn debt
Debt of Paul Coulson’s packaging group is seen as too high by analysts as outlook for glass bottles unit weakens
Ardagh cuts glass forecasts again as it continues to weigh options for €11.5bn debt
Fall driven by a drop in glass volume sales in North America
Ardagh bonds edge higher as sale of food cans venture draws close
Californian buyout firm Platinum Equity reported to be in talks to buy Ardagh’s 42%-owned Trivium for more than $3.5bn
Coulson’s love-in with junk bond investors in Ardagh hits the rocks
Analysts expect outlook for glass bottle sector to force group to restructure its debt at some point
Ardagh slashes forecast for glass bottle business as it mulls how to cut €11.5bn debt
Hit to bottle unit caused by weaker-than-expected demand among consumers in Europe, and a switch by drinks manufacturers from glass to aluminium cans
Ardagh’s riskiest bonds fall below 20c on euro ahead of results
Chairman of glass and metal packaging group says ‘all options’ to cut debt burden are being looked at
Ardagh to halt production at two US glass factories
Earnings and revenue at the group have fallen, driven by declines as drinks companies cut back orders
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Ardagh’s riskiest bonds hit low of 21 cent on the euro on Apollo deal
Declines follow Ardagh’s deal with the debt solutions company to buy out some of the group’s riskiest bonds
Ardagh enlists Apollo to refinance $700m debt falling due next year
Companies also agree plan to mop up some risky bonds as S&P moved earlier this month to downgrade company on account of $12bn debt burden
Ardagh’s debt nears $11.2bn amid S&P warning on risks
Packaging group’s riskiest bonds are currently trade at as low as 27 cents on the dollar
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