Ardagh bids to entice US investors

IRISH packaging group Ardagh has embarked on a US investor roadshow, aimed at raising acquisition funds.

The glass and bottling specialist, which has in recent times expanded into can and aluminium packaging, has two bond offers on the table for potential US investors, covering a combined $410 million (€322m) worth of senior notes in the firm.

The proceeds will chiefly go on covering the costs of recent acquisitions — earlier this month, Ardagh reached agreement to buy the Boxal group of companies for around €85m — and repaying debt.