Berry Plastics to start roadshow Wednesday for $750 million two-part note offering

By Paul A. Harris

St. Louis, Sept. 5 - Berry Plastics Holding Corp. will begin a roadshow on Wednesday for its $750 million two-part offering of eight-year second-priority senior secured notes (B2/CCC+), according to a market source.

The Evansville, Ind., manufacturer of plastic packaging products plans to sell a tranche of fixed-rate notes with four years of call protection and floating-rate notes with two years of call protection.

Tranche sizes remain to be determined.

Pricing is expected on Sept. 15.

Deutsche Bank Securities, Credit Suisse, Citigroup and JP Morgan are joint bookrunners.

The company will also put in place a new $875 million credit facility.

Proceeds will be used to help fund the acquisition by Apollo Management, LP and Graham Partners from Goldman Sachs Capital Partners and JP Morgan Partners.

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