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Ball Corporation completes Previously announced Redemption of its 6.75% Senior Notes due 2020 and 5.75% Senior Notes due 2021

Tuesday, Mar 24, 2015
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Ball Corporation announced that it completed the previously announced redemption of all of its outstanding 6.75% Senior Notes due 2020 (CUSIP No. 058498 AP1) (the "2020 Notes") issued pursuant to the Fourth Supplemental Indenture, dated as of March 22, 2010, by and among Ball, the subsidiary guarantors named therein and The Bank of New York Mellon Trust Company, N.A., as trustee (the "Trustee") and all of its outstanding 5.75% Senior Notes due 2021 (CUSIP No. 058498 AQ9) (the "2021 Notes" and, together with the 2020 Notes, the "Notes") issued pursuant to the Fifth Supplemental Indenture, dated as of November 18, 2010, by and among Ball, the subsidiary guarantors named therein and the Trustee (the "Fifth Supplemental Indenture").

The 2020 Notes were redeemed at a redemption price of 103.375% of the principal amount of the 2020 Notes outstanding plus accrued and unpaid interest to the redemption date of March 21, 2015, payable in cash. The 2021 Notes were redeemed at a redemption price of 100% of the principal amount of the 2021 Notes outstanding plus the Applicable Premium (as defined in the Fifth Supplemental Indenture) as of, and accrued and unpaid interest to, the redemption date of March 21, 2015, payable in cash.

As of the redemption date, $500 million principal amount of the 2020 Notes and $500 million principal amount of the 2021 Notes remained outstanding.  On and after the redemption date, the Notes called for redemption were no longer deemed outstanding and interest ceased to accrue.

Ball used cash on hand and borrowings under its existing bank credit facilities and accounts receivable securitization program to fund these redemptions.  As a result of the redemption of the Notes, Ball will record a pre-tax charge of approximately $55.8 million in the first quarter of 2015.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, including the Notes.

About Ball Corporation

Ball Corporation supplies innovative, sustainable packaging solutions for beverage, food and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government. Ball Corporation and its subsidiaries employ 14,500 people worldwide and reported 2014 sales of $8.6 billion.

 

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