Berry Global Group, Inc. has announced the commencement of an offer to exchange up to $800,000,000 of its new 5.650% first priority senior secured notes due 2034 and up to $800,000,000 of its new 5.800% first priority senior secured notes due 2031 for an equal amount of the company's outstanding unregistered 5.650% first priority senior secured notes due 2034 and unregistered 5.800% first priority senior secured notes due 2031. The exchange offers are being conducted upon the terms and subject to the conditions set forth in a prospectus dated January 14, 2025.
The exchange offers are limited to holders of the outstanding notes and are scheduled to expire at 5:00 p.m. Eastern Time on February 11, 2025, unless extended. Holders of outstanding notes tendered pursuant to the exchange offers may withdraw their offers at any time prior to the expiration date.
The exchange notes are identical in all material respects to the outstanding notes, except for certain differences such as the registration under the Securities Act of 1933 and the absence of transfer restrictions or registration rights for the exchange notes.
Berry Global Group, Inc. is a company listed on the New York Stock Exchange under the ticker symbol "BERY." The company has over 34,000 global employees across more than 200 locations and is committed to creating innovative packaging solutions with a focus on sustainability and the circular economy.
No specific financial metrics or changes in financial performance were provided in the press release. As a result of these announcements, the company's shares have moved 1.2% on the market, and are now trading at a price of $66.93. Check out the company's full 8-K submission here.
