Smurfit Westrock Announced Closing of Green Bond Offerings

Smurfit Westrock announced closing of its USD and EUR green bond offerings.

SEATTLE (Scrap Monster): Smurfit Westrock declared that its green bond offers in USD and EUR have closed.

A news release from the company states that its wholly-owned subsidiary, Smurfit Westrock Financing DAC, has successfully closed an offering of $850 million in total principal amount of senior notes due in 2035, denominated in U.S. dollars. Additionally, it closed a dual-tranche Euro-denominated issuance by its wholly-owned subsidiary, Smurfit Kappa Treasury Unlimited Company, of €600 million in total principal amount of senior notes due in 2032 and €600 million in total principal amount of senior notes due in 2036.

The coupon on the 2035 Notes is 5.418%, the coupon on the 2032 Notes is 3.454%, and the coupon on the 2036 Notes is 3.807%. The 2035 Notes are priced at 99.988%. 

The Notes' net proceeds will be used for general corporate purposes as well as the redemption of the outstanding €1,000 million in aggregate principal amount of 2.875% senior notes due 2026 issued by Smurfit Kappa Acquisitions Unlimited Company, a wholly-owned subsidiary of Smurfit Westrock, and the outstanding $750 million in aggregate principal amount of 4.650% senior notes due 2026 issued by WRKCo Inc.

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