...June 8, 2020 LONDON (S&P Global Ratings) June 8, 2020--S&P Global Ratings said today it has assigned its '###-' issue-level rating to Switzerland-domiciled aseptic carton packaging manufacturer SIG Combibloc Group AG's (SIG; ###-/Stable/--) proposed senior unsecured debt issued by its financial subsidiary, SIG Combibloc Purchase S.a.r.l. We are assigning an issuer credit rating of '###-' to SIG Combibloc Purchase S.a.r.l. SIG is refinancing its existing debt structure. The proposed debt structure comprises 500 million senior unsecured notes due 2025, 500 million senior unsecured notes due 2023, a 550 million term loan, and a 300 million revolving credit facility (expected to be undrawn at transaction closing). We view the proposed refinancing as leverage neutral. The company will apply the proceeds from this debt issuance to repay its existing 1.2 billion term loan A and 350 million term loan B. Our '###-' long-term issuer credit rating and stable outlook on SIG remain unchanged. The stable...
