Berry Plastics LBO financing expected to generate $750 million second-lien notes, probable September business

By Paul A. Harris

St. Louis, Aug. 17 - BPC Holding Corp., the parent of Berry Plastics Corp., is expected to bring a $750 million offering of senior secured second-lien notes in a September LBO financing, according to market sources.

Credit Suisse, Deutsche Bank and Citigroup are expected to be joint bookrunners, according to a source. Banc of America Securities LLC and Lehman Brothers will be among the co-managers, with at least one other co-manager expected to emerge.

The company is also obtaining a new $875 million credit facility.

Proceeds will be used to help fund the $2.25 billion acquisition of the company by Apollo Management, LP and Graham Partners from Goldman Sachs Capital Partners and JPMorgan Partners.

Berry Plastics is an Evansville, Ind., manufacturer and marketer of rigid plastic packaging products.

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