Ball final tender results on 2025, 2026 notes nudge tally higher

Chicago, March 14 – Ball Corp. announced the final results of its any-and-all tender offers for two of its outstanding notes on Thursday evening in a press release.

By the final deadline of 5 p.m. ET on March 14, noteholders tendered the following amounts of notes with the related details:

• $810,672,000 tendered of the $1 billion outstanding 5¼% senior notes due 2025 (Cusip: 058498AT3) at $1,000 per $1,000 principal amount, with pricing based on the 4 5/8% U.S. Treasury due June 30, 2025 and a fixed spread of 50 basis points; and

• $494,031,000 tendered of the $750 million outstanding 4 5/8% senior notes due 2026 (Cusip: 058498AV8) at $990.38 per $1,000 principal amount, with pricing based on the 4 5/8% U.S. Treasury due March 15, 2026 and a fixed spread of 70 bps.

As of the early deadline, holders tendered $804,314,000 of the notes due 2025 and $492,907,000 of the notes due 2026.

All notes were accepted for purchase.

The total considerations listed above include a $30 early tender premium for each $1,000 of notes tendered on or before the early tender deadline. Later tendering holders received the considerations without the early incentive.

In addition to the purchase price, the issuer will also pay accrued interest.

The early tender deadline, which was also the withdrawal deadline, was 5 p.m. ET on Feb. 28.

Early settlement was Feb. 29.

Final settlement is expected for March 15.

The tender offer is expected to be paid with funds from the sale of Ball’s aerospace business.

The dealer managers are BNP Paribas Securities Corp. (212 841-3059; 888 210-4358; dl.us.liability.management@us.bnpparibas.com) and Morgan Stanley & Co. LLC (212 761-1057; 800 624-1808; debt_advisory@morganstanley.com).

D.F. King & Co., Inc. (866 796-1291; ball@dfking.com) is the tender agent and information agent.

Ball is a Broomfield, Colo.-based provider of packaging solutions for beverage, food and household products customers as well as aerospace and other technologies and services primarily for the U.S. government.

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