Ball Corp. announces unsuccessful consent solicitation for 6 7/8% notes

By Jennifer Chiou

New York, Oct. 1 - Ball Corp. said it did not obtain the needed consents in its solicitation for its 6 7/8% senior notes due 2012.

The solicitation expired at 5 p.m. ET on Sept. 30.

The deadline had been pushed back from Sept. 23 and, before that, Sept. 16. The solicitation began on Sept. 3.

Ball Corp. had also increased the consent fee to $10.00 in cash for each $1,000 principal amount of notes from $2.50 per $1,000 principal amount of notes.

The company previously said the primary purpose of the proposed amendments to the indenture was to change provisions governing restricted payments so that they generally match provisions governing restricted payments contained in the indenture of Ball's 6 5/8% senior notes due 2018.

The company needed consents from holders of at least a majority of the outstanding notes.

Lehman Brothers Inc. (800 438-3242 or 212 528-7581) was the solicitation agent, and D.F. King & Co., Inc. (800 431-9643 or 212 269-5550) was the information and tabulation agent.

Ball is a Broomfield, Colo.-based supplier of metal and plastic packaging for beverage, food and household products customers and of aerospace and other technologies and services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.