Frigoglass Group announces completion of the issuance of new Senior Secured Notes

Athens, Greece, 1/11/2024. – Further to the announcement on 30 October 2024 of the agreement by Frigo DebtCo plc (the “Company”) to issue and sell €20 million in aggregate principal amount of 4% Cash Interest and 11.5% PIK Interest Senior Secured Notes due 2026 (the “Transaction”), the Frigoglass Group is pleased to confirm that the Company completed the Transaction on 31 October 2024.

As noted, the proceeds of the Transaction will be used to fund the cash interest payment due on 1 November 2024 on the Company’s €75 million senior secured notes due 2026 and its €150 million second lien senior secured notes due 2028, to fund upcoming working capital and capital expenditure requirements to continue its business operation and to support the Frigoglass Group’s growth plans.

Further Information

Further information regarding the Transaction and our business plan are available on our website: https://www.frigoglass.com.

Reed Smith LLP have acted as international counsel to Frigoglass Group, while Weil, Gotshal & Manges LLP have acted as international counsel to the Noteholders in this Transaction.