Ardagh Group will raise $1.53 billion of debt to help finance its proposed acquisition of Verallia North America (VNA).

The two-tiered financing comprises a $700m term loan facility and the offering of $830m in senior notes, not due for repayment until 2019 and 2021. The term loan will mature in 2019.

Ardagh initially agreed the takeover of VNA, for $1.7bn from Saint-Gobain, 12 months ago.

However, the deal stalled last summer, with the US Federal Trade Commission claiming the acquisition was anti-competitive. Ardagh is currently negotiating a settlement with the commission and has proposed the closure of nine manufacturing facilities and an office.

The proposals involve Ardagh selling six former Anchor Glass manufacturing plants located in Elmira, NY, Henryetta, OK, Jacksonville, FL, Lawrenceburg, IN, Shakopee, MN and Warner Robins, GA, a mould manufacturing facility in Zanesville, OH, an engineering and spare parts facility in Streator, IL and the headquarters of Ardagh Glass Inc in Tampa, FL.

In a trading update Ardagh said it expects a slight decline in total group revenues for full year 2013 but its glass packaging division is expected to report a slight increase in revenues.