Berry Global Group, Inc. Announces Proposed Offering of First Priority Senior Secured Notes
January 10 2024 - 8:46AM
Business Wire
Berry Global Group, Inc. (NYSE: BERY) (“Berry”) announced today
that its wholly-owned subsidiary, Berry Global, Inc. (the
“Issuer”), plans to issue a new series of first priority senior
secured notes (the “Notes”).
The net proceeds from the offering are intended to prepay a
portion of certain existing indebtedness of the Issuer and to pay
certain fees and expenses related to the offering.
The Notes are being offered only to persons reasonably believed
to be qualified institutional buyers in reliance on Rule 144A under
the Securities Act of 1933, as amended (the “Securities Act”), and
outside the United States, only to non-U.S. investors pursuant to
Regulation S. The Notes have not been registered under the
Securities Act or any state or other securities laws and may not be
offered or sold in the United States absent an effective
registration statement or an applicable exemption from registration
requirements or a transaction not subject to the registration
requirements of the Securities Act or any state securities
laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any security and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offering, solicitation or sale would be unlawful. Any
offers of the Notes will be made only by means of a private
offering memorandum.
About Berry Global
At Berry Global Group, Inc. (NYSE: BERY), we create packaging
and engineered products that we believe make life better for people
and the planet. We do this every day by leveraging our unmatched
global capabilities, sustainability leadership, and deep innovation
expertise to serve customers of all sizes around the world.
Harnessing the strength in our diversity and industry-leading
talent of more than 40,000 global employees across more than 250
locations, we partner with customers to develop, design, and
manufacture innovative products with an eye toward the circular
economy. The challenges we solve and the innovations we pioneer
benefit our customers at every stage of their journey. For more
information, visit our website, or connect with us on LinkedIn or
X. (BERY-F)
Forward Looking Statements
Certain statements and information in this release may
constitute “forward looking statements” within the meaning of the
federal securities laws and are presented pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. You can identify forward-looking statements because they
contain words such as “believes,” “expects,” “may,” “will,”
“should,” “would,” “could,” “seeks,” “approximately,” “intends,”
“plans,” “estimates,” “projects,” “outlook,” “anticipates” or
“looking forward,” or similar expressions that relate to our
strategy, plans, intentions, or expectations. All statements we
make relating to our estimated and projected earnings, margins,
costs, expenditures, cash flows, growth rates, and financial
results or to our expectations regarding future industry trends are
forward-looking statements. In addition, we, through our senior
management, from time to time make forward-looking public
statements concerning our expected future operations and
performance and other developments.
These forward-looking statements are subject to risks and
uncertainties that may change at any time, and, therefore, our
actual results may differ materially from those that we expected
due to a variety of factors, including without limitation: (1)
risks associated with our substantial indebtedness and debt
service; (2) changes in prices and availability of resin and other
raw materials and our ability to pass on changes in raw material
prices to our customers on a timely basis; (3) risks related to
acquisitions or divestitures and integration of acquired businesses
and their operations, and realization of anticipated cost savings
and synergies; (4) risks related to international business,
including transactional and translational foreign currency exchange
rate risk and the risks of compliance with applicable export
controls, sanctions, anti-corruption laws and regulations; (5)
increases in the cost of compliance with laws and regulations,
including environmental, safety, and climate change laws and
regulations; (6) labor issues, including the potential labor
shortages, shutdowns or strikes, or the failure to renew effective
bargaining agreements; (7) risks related to disruptions in the
overall global economy, persistent inflation, supply chain
disruptions, and the financial markets that may adversely impact
our business; (8) risk of catastrophic loss of one of our key
manufacturing facilities, natural disasters, and other unplanned
business interruptions; (9) risks related to weather-related events
and longer-term climate change patterns; (10) risks related to the
failure of, inadequacy of, or attacks on our information technology
systems and infrastructure; (11) risks that our restructuring
programs may entail greater implementation costs or result in lower
cost savings than anticipated; (12) risks related to future
write-offs of substantial goodwill; (13) risks of competition,
including foreign competition, in our existing and future markets;
(14) risks related to market conditions associated with our share
repurchase program; (15) risks related to market disruptions and
increased market volatility; and (16) the other factors and
uncertainties discussed in the section titled “Risk Factors” in our
Annual Report on Form 10-K filed on November 17, 2023 and
subsequent filings with the Securities and Exchange Commission. We
caution you that the foregoing list of important factors may not
contain all of the material factors that are important to you.
Accordingly, readers should not place undue reliance on those
statements. All forward-looking statements are based upon
information available to us on the date hereof. All forward-looking
statements are made only as of the date hereof and we undertake no
obligation to update or revise any forward-looking statement as a
result of new information, future events or otherwise, except as
otherwise required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240109308397/en/
Investor Contact: Dustin Stilwell +1 812.306.2964
ir@berryglobal.com
Global Media Contact: Anna Raben +1 812.492.1387
mediarelations@berryglobal.com
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