Ball to call 7¾% bonds

By Angela McDaniels

Seattle, Oct. 13 - Ball Corp. will redeem all $249 million of its outstanding 7¾% senior notes due 2006 in order to reduce interest costs.

The redemption is scheduled for Nov. 14 and will cost the company $3.9 million in call premium and unamortized debt issuance expenses.

Ball also closed a new senior secured credit facility with longer maturities and lower interest-rate spreads.

Based in Broomfield, Colo., Ball is a supplier of metal and plastic packaging products, primarily for the beverage and food industries. The company also owns Ball Aerospace & Technologies Corp.

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