Rank Group reprices $2.3bn debt

The privately owned group is tapping the liquid US market to refinance at significantly lower cost.

Privately-owned New Zealand packaging giant Rank Group has tapped the cheap US debt market to reprice a $2.3 billion term loan, hot on the heels of Fortescue Metals Group.

Credit Suisse bankers hit the phones late last night to seal a cross-border term loan for Rank Group packaging and storage subsidiary Reynolds Group.

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