BERRY GLOBAL GROUP, INC.: debt financing — Berry Global issues $800M of 5.650% senior secured notes due 2034

BERRY GLOBAL GROUP, INC.

$800M aggregate principal of 5.650% First Priority Senior Secured Notes maturing Jan 15, 2034.
Interest payable semiannually on Jan 15 and Jul 15, beginning Jul 15, 2024.
Notes are first priority secured by substantially all assets; parent Berry Global Group guarantees.
Before Oct 15, 2033, redeemable at greater of T+25bps or 100% plus accrued; after at 100%.
Change of control with rating downgrade triggers offer to repurchase at 101% plus accrued.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

BERRY GLOBAL GROUP, INC. incurred senior notes of $800,000,000 aggregate principal amount with U.S. Bank Trust Company, National Association at 5.650% maturing January 15, 2034.

Instrument: senior notes
Principal: $800,000,000 aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 5.650%
Maturity: January 15, 2034
Event: incurrence

Exact text from the filing

issued $800,000,000 aggregate principal amount of BGI's 5.650% First Priority Senior Secured Notes due 2034

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BERRY GLOBAL GROUP, INC. entered into Registration Rights Agreement with Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC (effective 2024-01-17).

Action: entry
Counterparty: Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC
Effective: 2024-01-17

Exact text from the filing

BGI, Berry, certain of BGI’s subsidiaries party thereto as guarantors, and Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, as representatives of the initial purchasers of the First Priority Notes, entered into a registration rights agreement (the “Registration Rights Agreement”) with respect to the First Priority Notes.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BERRY GLOBAL GROUP, INC. entered into Indenture with U.S. Bank Trust Company, National Association valued at $800,000,000 (effective 2024-01-17).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $800,000,000
Effective: 2024-01-17

Exact text from the filing

issued $800,000,000 aggregate principal amount of BGI’s 5.650% First Priority Senior Secured Notes due 2034 (the “First Priority Notes”), pursuant to an Indenture, dated as of January 17, 2024, among BGI, Berry and certain of Berry’s subsidiaries party thereto as guarantors, and U.S. Bank Trust Company, National Association, as trustee and collateral agent (the “Indenture”).

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Source: SEC EDGAR

accession 0001104659-24-004462

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