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Ball to sell senior notes backing U.S. Can acquisition
St. Louis, Feb. 14 - Ball Corp. plans to sell new senior notes and put in place new credit facilities to help fund its acquisition of U.S. Can Corp.'s U.S. and Argentinean operations for 1.1 million shares of Ball Corp. common stock and the repayment of $550 million of U.S. Can's debt, Ball said in a news release.
The transaction is expected to close by the end of the first quarter of 2006, subject to regulatory approvals.
Ball is a supplier of high-quality metal and plastic packaging products and owns Ball Aerospace & Technologies Corp., which develops sensors, spacecraft, systems and components for government and commercial customers.
The company has headquarters in Broomfield, Colo.
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