By Cristal Cody
Chicago, June 8 – Berry Global Group Inc. sold $400 million of 1.65% first-priority senior secured notes due Jan. 15, 2027 (BBB-/BBB-), according to a press release on Tuesday evening.
Interest is payable semiannually.
The notes were talked in the Treasuries plus 110 basis points area, a market source said earlier in the day.
Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are joint bookrunners of the notes.
Proceeds from the Rule 144A and Regulation S notes will be used to prepay a portion of certain existing term loans of the issuer and to pay certain fees and expenses related to the offering.
Berry Global is an Evansville, Ind.-based manufacturer and marketer of plastic packaging products.
| Issuer: | Berry Global Group Inc.
|
| Issue: | First-priority senior secured notes
|
| Amount: | $400 million
|
| Maturity: | Jan. 15, 2027
|
| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC
|
| Coupon: | 1.65%
|
| Trade date: | June 8
|
| Settlement date: | June 14
|
| Ratings: | S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 110 bps area
|
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