BROOMFIELD, Colo., Nov. 15, 2010 /PRNewswire-FirstCall/ -- Ball
Corporation (NYSE: BLL) announced today that it priced an
underwritten public offering of $500
million, $100 million more
than previously announced, of 5.75 percent senior notes due
May 15, 2021. The offering is
expected to close on November 18,
2010, subject to market conditions and other factors.
Ball intends to use the net proceeds from the offering to repay
the borrowings under its $300 million
secured term loan facility and for general corporate purposes,
which may include potential acquisitions, the repayment of debt,
working capital or share repurchases.
BofA Merrill Lynch; Goldman, Sachs & Co.; Deutsche Bank
Securities; J.P. Morgan; and Barclays Capital are acting as joint
book-running managers of the offering.
Ball is making the offer under a shelf registration statement
previously declared effective by the U.S. Securities and Exchange
Commission. This offering will be made solely by means of a
prospectus and prospectus supplement, a copy of which may be
obtained on the SEC website at www.sec.gov. Alternatively, Ball,
any underwriter or any dealer participating in the offering will
arrange to send you the prospectus if you request it by calling
1-800-294-1322.
This announcement is neither an offer to sell nor a solicitation
of an offer to buy any securities and shall not constitute an
offer, solicitation or sale in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
Ball Corporation is a supplier of high-quality metal packaging
for beverage, food and household products customers, and of
aerospace and other technologies and services, primarily for the
U.S. government.
Forward-Looking Statements
This release contains "forward-looking" statements concerning
future events and financial performance. Words such as "expects,"
"anticipates," "estimates" and similar expressions are intended to
identify forward-looking statements. Such statements are subject to
risks and uncertainties which could cause actual results to differ
materially from those expressed or implied. The company undertakes
no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. Key risks and uncertainties are summarized in filings
with the Securities and Exchange Commission, including Exhibit 99.2
in our Form 10-K, which are available on our website and at
www.sec.gov. Factors that might affect our packaging segments
include fluctuation in product demand and preferences; availability
and cost of raw materials; competitive packaging availability,
pricing and substitution; changes in climate and weather; crop
yields; competitive activity; failure to achieve anticipated
productivity improvements or production cost reductions; mandatory
deposit or other restrictive packaging laws; changes in major
customer or supplier contracts or loss of a major customer or
supplier; and changes in foreign exchange rates or tax rates.
Factors that might affect our aerospace segment include: funding,
authorization, availability and returns of government and
commercial contracts; and delays, extensions and technical
uncertainties affecting segment contracts. Factors that might
affect the company as a whole include those listed plus: accounting
changes; changes in senior management; the current global recession
and its effects on liquidity, credit risk, asset values and the
economy; successful or unsuccessful acquisitions, joint ventures or
divestitures; integration of recently acquired businesses;
regulatory action or laws including tax, environmental, health and
workplace safety, including in respect of climate change, or
chemicals or substances used in raw materials or in the
manufacturing process; governmental investigations; technological
developments and innovations; goodwill impairment; antitrust,
patent and other litigation; strikes; labor cost changes; rates of
return projected and earned on assets of the company's defined
benefit retirement plans; pension changes; reduced cash flow;
interest rates affecting our debt; and changes to unaudited results
due to statutory audits or other effects.
SOURCE Ball Corporation