Ball Corp. to hold brief roadshow next week for $450 million 10-year notes

By Paul A. Harris

St. Louis, March 2 - Ball Corp. will hold a roadshow Monday and Tuesday for its $450 million offering of 10-year senior notes (assumed ratings Ba2/BB), according to an informed source. Pricing is expected thereafter.

Lehman Brothers, Banc of America Securities LLC, Deutsche Bank and JP Morgan are joint bookrunners for the public offering. BNP Paribas is a co-manager.

The notes will be callable with a make-whole call at Treasuries plus 50 basis points for the first five years and then will become callable at a premium. They will also contain a three-year 35% equity clawback.

The company will also obtain a new term loan.

Proceeds will be used to fund the acquisitions of U.S. Can Corp.'s U.S. and Argentinean operations and certain North American plastic bottle container assets of Alcan Packaging.

Ball is a supplier of metal and plastic packaging products and owns Ball Aerospace & Technologies Corp., which develops sensors, spacecraft, systems and components for government and commercial customers. The company has headquarters in Broomfield, Colo.

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