debt
confidence high
sentiment neutral
materiality 0.55
Ball Corp. launches tender offers for $1.75B of senior notes due 2025/2026
BALL Corp
- Ball launches cash tender offers for any and all of $1.0B 5.25% Senior Notes due 2025 and $750M 4.875% Senior Notes due 2026.
- Funding source is net proceeds from pending sale of Ball's aerospace business.
- Early tender premium of $30 per $1,000 principal; early deadline Feb 28, 2024; final expiration Mar 14, 2024.
- For the 2025 Notes, total consideration not less than 100% of principal; fixed spreads 50 bps (2025) and 70 bps (2026).