By Wendy Van Sickle
Columbus, Ohio, Jan. 11 – Berry Global Group Inc. priced $800 million of 0.95% first-priority senior secured notes due Feb. 15, 2024 (/BBB-/BBB-) in a Rule 144A and Regulation S offering on Monday, according to a company news release.
Berry Global Inc., a wholly owned subsidiary of the company, will be the issuer of the securities, which will be guaranteed by Berry Global Group and each of the issuer’s domestic subsidiaries that guarantee its credit facilities, existing first-priority secured notes and second-priority secured notes.
The proceeds of the offering are intended to prepay a portion of certain existing term loans of the issuer and to pay certain fees and expenses related to the offering.
Berry Global is an Evansville, Ind.-based manufacturer and marketer of plastic packaging products.
| Issuer: | Berry Global Inc.
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| Guarantor: | Berry Global Group Inc.
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| Amount: | $800 million
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| Description: | First priority senior secured notes
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| Maturity: | Feb. 15, 2024
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| Coupon: | 0.95%
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| Trade date: | Jan. 11
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| Settlement date: | Jan. 15
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| Ratings: | S&P: BBB-
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| Fitch: BBB-
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| Distribution: | Rule 144A and Regulation S
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