Ardagh Group has reported a near 25% year-on-year increase in its first quarter revenues to just over €1.2bn.

Glass and packaging group Ardagh has announced plans for an early refinancing of just over €2bn in debt, effectively removing any repayment deadlines from around its targeted IPO date of 2015.

US regulators have stalled a €1.3bn takeover planned by Irish glass and packaging group Ardagh, claiming the proposed move is “anti-competitive”.

Ardagh Group’s bondholders are banking on a leverage-reducing initial public offering of shares to sustain a rally as the European glassware-maker completes a $1.7bn (€1.28bn) debt-funded acquisition in the US.

Glass and packaging group Ardagh has reached initial agreement to acquire Verallia North America — the second largest glass container manufacturer in the US — from French multinational, Saint-Gobain for around $1.7bn (€1.27bn).