Posted on 8161
Berry Global Group, Inc. (NYSE:BERY) (“Berry”) announced today the pricing of the private placement launched December 15, 2020, by its wholly owned subsidiary, Berry Global, Inc. (the “Issuer”). The Issuer will issue $750,000,000 of first priority senior secured notes due 2026 (the “Notes”). The closing of the private placement offering is expected to occur on or about December 22, 2020.
The Notes will bear interest at a rate of 1.57%, payable semiannually, in cash in arrears, on January 15 and July 15 of each year, commencing on July 15, 2021. The Notes will mature on January 15, 2026.
The Notes will be guaranteed by Berry and each of the Issuer’s existing and future direct or indirect domestic subsidiaries that guarantees the Issuer’s senior secured credit facilities, existing first priority secured notes and existing second priority senior secured notes, subject to certain exceptions.