Ball Corp. (NYSE: BALL) has priced an underwritten public offering of €850 million aggregate principal amount of 4.250% Senior Notes due 2032. The aggregate principal amount of the Notes to be issued in the offering was increased to €850 million from the previously announced €750 million.
The company plans to use the net proceeds from the offering—along with existing cash—for general corporate purposes. These may include debt repayment or refinancing, strategic investments, acquisitions, working capital, pension contributions or capital expenditures.
In the near term, Westminster-based Ball expects to use a portion of the proceeds, combined with cash on hand, to repay outstanding borrowings under its U.S. dollar revolving credit facility. The company noted this repayment will not reduce the facility’s commitment amount. Final decisions on fund allocation will remain at the discretion of Ball’s management.
BNP Paribas, Deutsche Bank Securities Inc., Crédit Agricole CIB, and UniCredit Bank GmbH are serving as global coordinators and joint book-running managers for the offering. The notes are being issued under a shelf registration statement previously filed with the U.S. Securities and Exchange Commission. The sale will be conducted exclusively through a prospectus supplement and accompanying prospectus.
