(Source: PRNewswire-FirstCall)
BROOMFIELD, Colo., Aug. 11 /PRNewswire-FirstCall/ -- Ball Corporation announced today that it priced an underwritten public offering of $375 million in aggregate principal amount of 7.125 percent senior notes due 2016 and $325 million in aggregate principal amount of 7.375 percent senior notes due 2019, for a total of $700 million in aggregate principal amount, $50 million more than previously announced. The offering is expected to close on Aug. 20, 2009, subject to market conditions and other factors.
Ball expects to use the net proceeds from the offering to finance the previously announced acquisition of three beverage can manufacturing plants and one beverage can end manufacturing plant from Metal Container Corporation, an indirect wholly owned subsidiary of Anheuser-Busch InBev n.v./s.a., and any remaining proceeds to pay associated fees and expenses and for general corporate purposes, which may include other potential acquisitions, the refinancing or repayment of debt, working capital, share repurchases or capital expenditures.
Goldman, Sachs & Co.; J.P. Morgan Securities Inc.; Banc of America Securities LLC; Barclays Capital Inc.; and Deutsche Bank Securities Inc. are acting as joint book-running managers of the offering.
Ball is making the offer under a shelf registration statement previously declared effective by the Securities Exchange Commission. This offering will be made solely by means of a prospectus and prospectus supplement, a copy of which may be obtained on the SEC website at http://www.sec.gov/. Alternatively, Ball, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling 1-888-663-5847.
This announcement is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Ball Corporation is a supplier of high-quality metal and plastic packaging for beverage, food and household products customers, and of aerospace and other technologies and services, primarily for the U.S. government. Ball Corporation and its subsidiaries employ more than 14,000 people worldwide and reported 2008 sales of approximately $7.6 billion.
Forward-Looking Statements
This release contains "forward-looking" statements concerning future events and financial performance. Words such as "expects," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements. Such statements are subject to risks and uncertainties which could cause actual results to differ materially from those expressed or implied.
