Berry Plastics $90 million add-on to 10¾% notes due 2012 expected to price Monday

By Paul A. Harris

St. Louis, Nov. 7 - Berry Plastics Corp. plans to price a $90 million add-on to its 10¾% senior subordinated notes due July 15, 2012 (B3/B-) mid-day on Monday, according to a market source.

An investor conference call is scheduled for Monday morning.

JP Morgan and Goldman Sachs & Co. are joint bookrunners on the Rule 144A deal.

The notes will be callable after July 15, 2007 at 105.375, with the call premium declining annually to 103.583, 101.792 and to par on July 15, 2010 and thereafter. The notes also contain an equity clawback until July 15, 2005 for 35% at 110.75.

Proceeds will be used to fund the acquisition of Landis Plastics, Inc.

The company, based in Evansville, Ind., manufactures plastic containers, drink cups and housewares.

The original $250 million priced at par on July 17, 2002.

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