Smurfit Kappa Group plc has announced that it has successfully completed the pricing of an offering of approximately €1.0 billion senior secured notes to be issued by its wholly owned subsidiary Smurfit Kappa Acquisitions. The net proceeds of the offering will be used to repay a portion of its three outstanding term loans under the Senior Facility Agreement, originally dated 30 November 2005, as amended, thereby extending the overall maturity profile of its debt. The notes are being offered in a private placement and there will be no public offering of the notes.

The notes will be issued in two series: €500 million of 7.250% notes due 2017 and €500 million of 7.750% notes due 2019. The notes priced at issue prices of approximately 98.5% and 99.1 % and yields of 7.5% and 7.875%, respectively. The closing of the sale of the notes is scheduled to be completed on 19 November 2009, and is subject to customary conditions.