Ball plans to tap credit facilities to fund notes redemption

By Susanna Moon

Chicago, Feb. 19 – Ball Corp. said it plans to use drawdowns under its bank credit facilities to fund the redemption of two series of notes.

The company issued a call for its $500 million principal amount of 6¾% senior notes due 2020 and its $500 million principal amount of 5¾% senior notes due 2021.

The notes will be redeemed on March 21 at a purchase price of 103.375% of par for the 6¾% notes and at par for the 5¾% notes, according to a company notice.

The company also will pay accrued interest to the redemption date.

Ball is a Broomfield, Colo.-based supplier of packaging for beverage, food and household products.

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