By Wendy Van Sickle
Columbus, Ohio, Nov. 13 Ball Corp. priced 1.3 billion of senior notes (BB+) in two parts on Wednesday, according to a news release.
The company priced 750 million of 7/8% senior notes due March 2024.
Ball also priced 550 million of 1½% senior notes due March 2027.
Merrill Lynch International, Goldman Sachs & Co. LLC and BNP Paribas are the global coordinators and joint bookrunning managers.
The issue size was increased from initial talk of 900 million.
Proceeds will be used to repay debt, which may include the companys euro-denominated and dollar-denominated notes due 2020, and for general corporate purposes.
Ball, based in Broomfield, Colo., is a provider of aluminum packaging solutions.
| Issuer: | Ball Corp.
|
| Amount: | 1.3 billion, increased from 900 million
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| Securities: | Senior notes
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| Bookrunners: | Merrill Lynch International, Goldman Sachs & Co. LLC and BNP Paribas
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| Trade date: | Nov. 13
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| Settlement date: | Nov. 18
|
| Rating: | S&P: BB+
|
|
|
| 2024 notes
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| Amount: | 750 million
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| Maturity: | March 2024
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| Coupon: | 7/8%
|
|
|
| 2027 notes
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| Amount: | 550 million
|
| Maturity: | March 2027
|
| Coupon: | 1½%
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