Ball plans to use note proceeds, revolver draw to retire 6 7/8% notes

By Jennifer Chiou

New York, March 17 - Ball Corp. announced that it intends to use the proceeds from a planned public offering of $450 million of senior notes due in 2020, along with borrowings under its revolving credit facility or accounts receivable securitization facility, to retire all of its 6 7/8% senior notes due 2012.

The company said it may also use cash on hand for the possible redemption, tender offer, open-market purchases or privately negotiated transactions involving the notes.

Ball is a Broomfield, Colo.-based supplier of metal and plastic packaging for beverage, food and household products customers and of aerospace and other technologies and services.

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