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Berry Global Group offers $500 million bond by Investing.com



Berry Global Corporation (BERY) offers $500 million worth of bonds

Berry Global Group, Inc. (NYSE:) (“Berry”), a leading provider of packaging solutions for consumer goods and industrial products, today announced the price of a private placement owned by subsidiary Berry. in its entirety on March 27, 2023. Global, Inc. (“Publisher”). The Issuer will issue US$500,000,000 of the First Preference Premium Secured Bonds maturing in 2028 (the “Bond”). The closing of the private placement is expected to take place on or around March 30, 2023.

The Bonds will bear an interest rate of 5.50%, payable semiannually, in cash deferred, on April 15 and October 15 of each year, commencing October 15, 2023. will expire on April 15, 2028.

The Bonds will be guaranteed by Berry and each of the Issuer’s current and future direct or indirect domestic subsidiaries to the Issuer’s premium secured credit facilities and Preferential guaranteed annotations are available, subject to certain exceptions. The Bonds and their guarantees shall be the independent obligations of the Issuer and shall be entitled to equal payment with all the Bonds of the Issuer, and, in the case of a guarantee, to all debts regardless of the present and future of the Guarantor. Berry’s guarantee is not guaranteed. The bonds will be secured on a second-preferred basis by a lien (subject to certain exceptions and permitted lien) over receivables, inventory, and certain related assets. to secure the Issuer’s revolving credit facility and on a first-priority basis by lien on the Issuer’s assets and assets and the sub-guarantors securing the credit. issuer’s senior secured term loan, subject to certain exceptions.

The net proceeds from the offering are intended to buy back a number of Issuer’s 0.95% Preferred Security Bonds maturing in 2024 duly bid and accepted for purchase. in the Issuer’s previously published tender offer (“Bid Offer”), to prepay a portion of some of the Issuer’s existing term loans and to pay certain fees and expenses associated with the offering.

Bonds are only offered to persons it is reasonably deemed to be to become a qualified institutional buyer pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). and outside the United States, only to non-U.S. investors pursuant to Regulation S. The bonds are not registered under the Securities Act or any other state or securities law and are not offered issued or sold in the United States if there is no effective declaration of registration or a waiver applies to the registration requirements or the transaction does not comply with the registration requirements of the Securities Act or any securities laws. any state.

This press release shall not constitute an offer to sell or an offer to purchase any securities and shall not constitute an offer, solicitation or sale in any jurisdiction where the offer, solicitation, offer or sell that is illegal. Any offer of the Bonds shall be made by means of a separate offering memorandum.

About Berry

At Berry Global Group, Inc. (BERY), we create innovatively designed and packaged products that we believe will make life better for people and the planet. We do this every day by leveraging our unmatched global capabilities, enduring leadership and deep innovation expertise to serve customers of all sizes around the world. Harnessing the diversity and industry-leading talent of 46,000 global employees in more than 265 locations, we work with customers to develop, design and manufacture innovative products geared toward circular economy. The challenges we tackle and the innovations we pioneer benefit customers at every stage of their journey. For more information, visit our website or connect with us on LinkedIn or Twitter.

Report looking ahead

Certain statements and information contained in this release are non-historical, including statements relating to the Company’s Notes, Tender Offers, and anticipated future activity, may constitute a “forward-looking statement” within the meaning of federal securities laws and is set forth in respect of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. can identify forward-looking statements because they contain words such as “believe”, “expect”, “could”, “will”, “should”, “will”, “could,” “find.” search,” “approximately,” “intend,” “plan,” “estimate,” “project,” “prospect,” “anticipate,” or “expect,” or similar expressions. relating to strategy, plan, intention or expectation. All statements we make regarding estimated and projected income, profit margins, expenses, expenditures, cash flows, growth rates and financial results or our expectations regarding Future industry trends are all forward-looking statements. In addition, we, through our senior management, make forward-looking public statements from time to time regarding our expected future activities and performance and other development.

These forward-looking statements are subject to risks and uncertainties that may change at any time and as a result, our actual results may differ significantly from what we expect. due to a variety of factors, including but not limited to: (1) the risks associated with us in substantial debt and debt service; (2) changes in the price and availability of plastics and other raw materials and our ability to pass on changes in raw material prices to our customers in a timely manner; (3) the risks associated with the acquisition or divestment and integration of the acquired businesses and their operations, while realizing the expected cost savings and synergies; (4) risks associated with international business, including exchange rate risk and currency conversion risk and risk of compliance with export controls, sanctions, anti-corruption laws and regulations current corruption; (5) increased costs of complying with laws and regulations, including environmental, safety and climate change laws and regulations; (6) labor issues, including potential labor shortages, shutdowns or strikes, or the inability to renew effective bargaining agreements; (7) risks associated with disruptions to the global economy at large, persistent inflation, disruptions to supply chains and financial markets that could adversely affect our business, including both due to the Russian-Ukrainian conflict; (8) the risk of serious loss to one of our key manufacturing facilities, natural disasters and other unplanned business interruptions; (9) risks associated with weather-related events and long-term patterns of climate change; (10) risks associated with failure, incompleteness or attacks on our information technology infrastructure and systems; (11) the risk that our restructuring programs may require higher implementation costs or result in lower cost savings than anticipated; (12) risks associated with future write-off of great goodwill; (13) competitive risks, including foreign competition, in our current and future markets; (14) risks related to market conditions related to our share buyback program; (15) risks related to market disruptions and increased market volatility due to Russia’s invasion of Ukraine; and (16) other factors discussed in the section titled “Risk Factors” in our Annual Report on Form 10-K filed on November 18, 2022, and then submitted to the Securities and Exchange Commission. We warn you that the above list of important factors may not contain all of the factors that are important to you. Therefore, readers should not put undue confidence in such claims. All forward-looking statements are based on information available to us at the date of this document. All forward-looking statements are made as of the date of this document only and we are under no obligation to update or revise any forward-looking statements due to new information, events future lawsuits or other circumstances, unless required by law.

Investor contact:

Dustin Stilwell

+1 812,306.2964

[email protected]

Source: Berry Global Corporation, Inc.

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