March 05, 2015 7:23 PM ET

Containers and Packaging

Company Overview of Reynolds Group Holdings Ltd.

Company Overview

Reynolds Group Holdings Limited manufactures and supplies consumer food, beverage, and foodservice packaging products worldwide. The company operates through five segments: Evergreen, Closures, Reynolds Consumer Products, Pactiv Foodservice, and Graham Packaging. The Evergreen segment provides fresh carton packaging products, such as fresh cartons, spouts, and filling machines for juice and milk markets; liquid packaging boards for other fresh beverage carton manufacturers; and coated groundwood paper products for catalogs, inserts, magazine, and commercial printing applications, as well as uncoated freesheet for use in envelope, specialty, and offset printing paper. The Closures segment man...

148 Quay Street

Level Nine

Auckland,  1010

New Zealand

Founded in 2006

30,000 Employees

Key Executives for Reynolds Group Holdings Ltd.

Chief Executive Officer and Director
Age: 66
Chief Financial Officer
Age: 51
Chief Executive Officer of Pactiv Foodservice
Age: 55
Chief Executive Officer of SIG
Age: 42
Chief Executive Officer of Evergreen
Age: 50
Compensation as of Fiscal Year 2014.

Reynolds Group Holdings Ltd. Key Developments

Reynolds Group Holdings Ltd. Announces Unaudited Pro Forma Consolidated Earnings Position as of December 31, 2014

Reynolds Group Holdings Ltd. (rghl group) announced unaudited pro forma consolidated earnings position as of December 31, 2014. For the period, the company reported revenue of $11,666 million, profit from operating activities of $982 million, loss before income tax of $52 million and loss from continuing operations of $93 million.

Reynolds Group Seeks an Amendment to the Credit Agreement

Reynolds Group Holdings Limited announced its plan to reduce its debt using proceeds from the expected sale of its SIG Combibloc business. In addition, Reynolds Group is concurrently seeking an amendment to the credit agreement governing its senior secured term loan facility. Pursuant to the Credit Agreement Amendment, term loan lenders are being asked, among other things, to waive their right to have their term loans prepaid with a pro rata portion of the Net Proceeds. If the Credit Agreement Amendment is not obtained, a portion of the Net Proceeds will be used to prepay term loans and a lesser portion will be available for purchasing Notes in the Asset Sale Offers and Premium Tender Offers. The priority of payments is described in detail in the Asset Sale Offer to Purchase and the Premium Tender Offer to Purchase. There can be no assurance as to the outcome of the Credit Agreement Amendment process or whether Reynolds Group will receive the requisite consents required for the Credit Agreement Amendment to apply to all term loan lenders. Reynolds Group Issuer LLC, Reynolds Group Issuer Inc. and Reynolds Group Issuer (Luxembourg) S.A. (together, the “Reynolds Issuers”) have commenced a cash tender offer to purchase an aggregate principal amount up to the maximum tender amount specified in the Asset Sale Offer to Purchase of their currently outstanding (a) 7.125% Senior Secured Notes due 2019 (b) 7.875% Senior Secured Notes due 2019 (c) 5.750% Senior Secured Notes due 2020 and (d) 6.875% Senior Secured Notes due 2021. The Reynolds Issuers have commenced a cash tender offer to purchase an aggregate principal amount up to the maximum tender amount specified in the Asset Sale Offer to Purchase of their currently outstanding (a) 9.000% Senior Notes due 2019 (b) 8.500% Senior Notes due 2018 (c) 9.875% Senior Notes due 2019 and (d) 8.250% Senior Notes due 2021. Beverage Packaging Holdings (Luxembourg) II S.A. and Beverage Packaging Holdings II Issuer Inc. have commenced a cash tender offer to purchase an aggregate principal amount up to the maximum tender amount specified in the Asset Sale Offer to Purchase of their currently outstanding 5.625% Senior Notes due 2016. The Asset Sale Offers are being made pursuant to the Issuers’ Offer to Purchase, dated February 17, 2015 and the related letter of transmittal, which set the complete terms and conditions of the Asset Sale Offers. The Senior Secured Notes Asset Sale Offer will expire at 11:59 p.m., New York City time, on March 16, 2015, unless extended or earlier terminated by the Reynolds Issuers. The Senior Notes Asset Sale Offer and BP Senior Notes Asset Sale Offer will expire at 11:59 p.m., New York City time, on March 16, 2015, unless extended or earlier terminated by the Issuers. The Reynolds Issuers and the BP Issuers, as the case may be, reserve the right to terminate, withdraw or amend the Asset Sale Offers at any time subject to applicable law.

Beverage Packaging Holdings (Luxembourg) II S.A., Reynolds Group Holdings Ltd., Q4 2014 Earnings Call, Feb 18, 2015

Beverage Packaging Holdings (Luxembourg) II S.A., Reynolds Group Holdings Ltd., Q4 2014 Earnings Call, Feb 18, 2015

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