Ball Corporation Announces Pricing of $750 Million of Senior Notes

Rhea-AI Summary

Ball Corporation (NYSE: BALL) has announced the pricing of $750 million in Senior Notes due 2033 with a 5.500% interest rate. The offering is expected to close on August 14, 2025, subject to customary closing conditions.

The company plans to use the net proceeds for general corporate purposes, including potential debt refinancing or repayment. Initially, Ball will use a portion of the proceeds, along with cash on hand, to repay outstanding borrowings under its U.S. dollar and multi-currency revolving credit facilities. The offering is being coordinated by BofA Securities, Goldman Sachs & Co. LLC, Citigroup Global Markets Inc., and Morgan Stanley & Co. LLC as joint book-running managers.

Positive

• New $750 million Senior Notes offering strengthens company's debt structure
• 5.500% interest rate secured in current market conditions
• Flexibility in use of proceeds for debt refinancing and corporate purposes

Negative

• Additional long-term debt obligation through 2033
• Increased interest expense with 5.500% rate

WESTMINSTER, Colo., Aug. 7, 2025 /PRNewswire/ -- Ball Corporation ("Ball") (NYSE: BALL) announced today that it priced an underwritten public offering of $750 million aggregate principal amount of 5.500% Senior Notes due 2033 (the "Notes"). The offering is expected to close on August 14, 2025, subject to the satisfaction of customary closing conditions.

Ball intends to use the net proceeds from the offering for general corporate purposes, which may include the refinancing or repayment of debt. Prior to the application of such proceeds, Ball intends to repay outstanding borrowings under its U.S. dollar and its multi-currency revolving credit facilities, without a reduction in commitment, using a portion of the net proceeds from the offering, together with cash on hand. The exact allocation of such proceeds and the timing thereof is at the discretion of Ball's management.

BofA Securities, Goldman Sachs & Co. LLC, Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC are acting as global coordinators and joint book-running managers of the offering of the Notes.

Ball is making the offer pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. The offering of the Notes is being made solely by means of a prospectus supplement and accompany prospectus. Copies of the prospectus supplement and accompany prospectus relating to the offering may be obtained via mail from BofA Securities, Inc. at BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attention: Prospectus Department or by emailing: dg.prospectus_requests@bofa.com; from Goldman Sachs & Co. LLC at Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282-2198, Attention: Registration Department or by emailing: registration-syndops@ny.email.gs.com; from Citigroup Global Markets Inc. at 1 (800) 831-9146 or by emailing prospectus@citi.com; and from Morgan Stanley & Co. LLC at 180 Varick Street, 2nd Floor New York, NY 10014, Attn: Prospectus Department, by phone at 1 (866) 718-1649 or by emailing prospectus@morganstanley.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Ball Corporation

Ball Corporation supplies innovative, sustainable aluminum packaging solutions for beverage, personal care and household products customers. Ball Corporation employs 16,000 people worldwide and reported 2024 net sales of $11.80 billion, which excludes the divested aerospace business.

Forward-Looking Statements

This release contains "forward-looking" statements concerning future events, including, but not limited to, Ball's ability to consummate the offering and issue the Notes and the intended use of proceeds of the offering. Words such as "intends," "will," "expects" and similar expressions typically identify forward looking statements, which are generally any statements other than statements of historical fact. Such statements are based on current expectations or views of the future and are subject to risks and uncertainties, which could cause actual results or events to differ materially from those expressed or implied. You should therefore not place undue reliance upon any forward-looking statements, and they should be read in conjunction with, and qualified in their entirety by, these cautionary statements. Ball undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Key factors, risks and uncertainties that could cause actual outcomes and results to be different are summarized in filings with the Securities and Exchange Commission, including Exhibit 99 in Ball's Form 10-K.

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SOURCE Ball Corporation

FAQ

What is the size and interest rate of Ball Corporation's (NYSE: BALL) new Senior Notes offering?

Ball Corporation is offering $750 million in Senior Notes with a 5.500% interest rate, due in 2033.

When will Ball Corporation's (BALL) new Senior Notes offering close?

The Senior Notes offering is expected to close on August 14, 2025, subject to customary closing conditions.

How will Ball Corporation use the proceeds from its $750M Senior Notes?

Ball plans to use the proceeds for general corporate purposes, including potential debt refinancing. Initially, they will repay outstanding borrowings under their U.S. dollar and multi-currency revolving credit facilities.

Which investment banks are managing Ball Corporation's 2033 Senior Notes offering?

The offering is being managed by BofA Securities, Goldman Sachs & Co. LLC, Citigroup Global Markets Inc., and Morgan Stanley & Co. LLC as global coordinators and joint book-running managers.

What is the maturity date for Ball Corporation's new Senior Notes?

The Senior Notes will mature in 2033.