May 1, 2018   SOURCE: BusinessWire

Coveris Announces Closing of Sale of Its Americas Business

Coveris Holdings S.A. (“Coveris” or “the Company”), a premier global packaging manufacturer, today announced that it has closed the previously announced sale of its Americas packaging business and has satisfied and discharged its obligations under its 7⅞% senior notes due 2019 (the “Notes”). The date of redemption of the Notes as previously announced will be May 7, 2018.

“We are pleased with the completion of this transaction,” said Jakob Mosser, Chief Executive Officer. “The proceeds of this sale were used to reduce our indebtedness and pay transaction expenses. We greatly reduced our leverage, bolstered our liquidity and enhanced our financial position.”

About Coveris

As a leading international manufacturing company, Coveris is dedicated to providing solutions that enhance the safety, quality and convenience of products we use every day. In partnership with the most respected brands in the world, Coveris develops vital products that protect everything from the food we eat, to medical supplies, to the touch screen device in our pockets, contributing to the lives of millions every day.