Ball Corporation Announces Public Offering of Senior Notes
Ball Corporation (NYSE: BALL) has announced a public offering of $750 million Senior Notes due 2033. The company plans to use the net proceeds for general corporate purposes, including potential debt refinancing or repayment.
Prior to the final allocation of proceeds, Ball intends to repay outstanding borrowings under its U.S. dollar and multi-currency revolving credit facilities using a portion of the net proceeds along with cash on hand. The offering is being coordinated by BofA Securities, Goldman Sachs, Citigroup Global Markets, and Morgan Stanley as joint book-running managers.
Ball Corporation (NYSE: BALL) ha annunciato un'offerta pubblica di note senior per 750 milioni di dollari con scadenza 2033. La societ脿 prevede di utilizzare il ricavato netto per scopi aziendali generali, incluso il possibile rifinanziamento o rimborso del debito.
Prima della destinazione finale dei proventi, Ball intende rimborsare i prestiti in essere nelle sue linee di credito revolving in dollari USA e multivaluta utilizzando una parte del ricavato netto insieme alla liquidit脿 disponibile. L'offerta 猫 coordinata da BofA Securities, Goldman Sachs, Citigroup Global Markets e Morgan Stanley come joint book-running managers.
Ball Corporation (NYSE: BALL) ha anunciado una oferta p煤blica de Notas Senior por 750 millones de d贸lares con vencimiento en 2033. La compa帽铆a planea utilizar los ingresos netos para prop贸sitos corporativos generales, incluyendo el posible refinanciamiento o pago de deuda.
Antes de la asignaci贸n final de los ingresos, Ball tiene la intenci贸n de pagar los pr茅stamos pendientes bajo sus l铆neas de cr茅dito revolventes en d贸lares estadounidenses y multimoneda, utilizando una parte de los ingresos netos junto con efectivo disponible. La oferta est谩 siendo coordinada por BofA Securities, Goldman Sachs, Citigroup Global Markets y Morgan Stanley como gestores conjuntos del libro de 贸rdenes.
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Ball Corporation (NYSE : BALL) a annonc茅 une 茅mission publique de obligations senior de 750 millions de dollars arrivant 脿 茅ch茅ance en 2033. La soci茅t茅 pr茅voit d'utiliser le produit net 脿 des fins g茅n茅rales d'entreprise, y compris un 茅ventuel refinancement ou remboursement de dette.
Avant l'affectation finale des produits, Ball a l'intention de rembourser les emprunts en cours au titre de ses facilit茅s de cr茅dit renouvelables en dollars am茅ricains et multidevises en utilisant une partie du produit net ainsi que la tr茅sorerie disponible. L'offre est coordonn茅e par BofA Securities, Goldman Sachs, Citigroup Global Markets et Morgan Stanley en tant que chefs de file conjoints.
Ball Corporation (NYSE: BALL) hat eine 枚ffentliche Platzierung von Senior Notes 眉ber 750 Millionen US-Dollar mit F盲lligkeit 2033 angek眉ndigt. Das Unternehmen plant, die Nettoerl枚se f眉r allgemeine Unternehmenszwecke zu verwenden, einschlie脽lich m枚glicher Schuldenrefinanzierung oder -r眉ckzahlung.
Vor der endg眉ltigen Verwendung der Erl枚se beabsichtigt Ball, ausstehende Kredite aus seinen revolvierenden Kreditlinien in US-Dollar und Mehrw盲hrung mit einem Teil der Nettoerl枚se sowie verf眉gbaren Barmitteln zur眉ckzuzahlen. Die Platzierung wird von BofA Securities, Goldman Sachs, Citigroup Global Markets und Morgan Stanley als gemeinsame Bookrunner koordiniert.
- None.
- Increased debt load with new Senior Notes issuance
- Additional interest expense burden from new notes through 2033
Insights
Ball Corp raising $750M in senior notes to refinance debt and maintain financial flexibility, a routine capital structure adjustment.
Ball Corporation has announced a $750 million senior notes offering maturing in 2033. This debt issuance appears to be primarily focused on debt restructuring rather than expansion capital, as the company explicitly states the proceeds will go toward general corporate purposes including refinancing existing debt.
The company's strategy to repay outstanding borrowings under its revolving credit facilities without reducing commitments is noteworthy. This approach maintains Ball's liquidity cushion and financial flexibility while potentially optimizing its debt maturity profile and interest expense structure.
The 8-year tenor of these notes indicates Ball is securing medium-term financing, which could potentially lock in current interest rates before any future rate fluctuations. The caliber of the underwriting team - featuring four major financial institutions as global coordinators - suggests strong institutional interest in Ball's debt.
Without specifics on the interest rate or complete details of Ball's existing debt structure, this appears to be a routine liability management exercise. For a manufacturing company with substantial capital requirements like Ball, maintaining an optimized debt structure through periodic refinancing is standard practice. This transaction likely represents prudent financial management rather than signaling any fundamental change in the company's trajectory or operations.
Ball intends to use the net proceeds from the offering for general corporate purposes, which may include the refinancing or repayment of debt. Prior to the application of such proceeds, Ball intends to repay outstanding borrowings under its
BofA Securities, Goldman Sachs & Co. LLC, Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC are acting as global coordinators and joint book-running managers of the offering of the Notes.
Ball is making the offer pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. The offering of the Notes is being made solely by means of a prospectus supplement and accompany prospectus. Copies of the preliminary prospectus supplement and accompany prospectus relating to the offering may be obtained听via mail from BofA Securities, Inc. at BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor,
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Ball Corporation
Ball Corporation supplies innovative, sustainable aluminum packaging solutions for beverage, personal care and household products customers. Ball Corporation employs 16,000 people worldwide and reported 2024 net sales of
Forward-Looking Statements
This release contains "forward-looking" statements concerning future events, including, but not limited to, Ball's ability to consummate the offering and issue the Notes and the intended use of proceeds of the offering. Words such as 听"intends," "will," "expects" and similar expressions typically identify forward looking statements, which are generally any statements other than statements of historical fact. Such statements are based on current expectations or views of the future and are subject to risks and uncertainties, which could cause actual results or events to differ materially from those expressed or implied. You should therefore not place undue reliance upon any forward-looking statements, and they should be read in conjunction with, and qualified in their entirety by, these cautionary statements. Ball undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Key factors, risks and uncertainties that could cause actual outcomes and results to be different are summarized in filings with the Securities and Exchange Commission, including Exhibit 99 in Ball's Form 10-K.
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