Ardagh Group - comment

Coulson’s exit would pave the way for a consensual deal re-instating the SSNs, with the SUNs being converted to equity. This deal would be positive for all creditors. Coulson has accepted that he will not retain any ownership, and now it’s a negotiation about how much, an extra $50m on the $250m already offered shouldn’t kill a deal that will simplify the post-restructuring Ardagh Group. The restructuring deal is not yet final, but we expect an announcement at the Q2 results on July 24th to be the target.

https://www.ft.com/content/af4633de-7a5f-4691-a265-6d00ad863164