Ball Corporation Announces Upsize and Pricing of €850 Million of Euro-Denominated Senior Notes
Rhea-AI Summary
Ball Corporation (NYSE: BALL) has successfully priced a public offering of €850 million in Senior Notes due 2032, with a 4.250% interest rate. The offering, upsized from the initially announced €750 million, is expected to close on May 19, 2025.
The company plans to use the proceeds for general corporate purposes, including debt refinancing, strategic investments, acquisitions, working capital, pension contributions, and capital expenditures. Initially, Ball will use a portion of the proceeds to repay outstanding borrowings under its U.S. dollar revolver. The offering is being coordinated by BNP PARIBAS, Deutsche Bank Securities, Crédit Agricole Corporate and Investment Bank, and UniCredit Bank as global coordinators and joint book-running managers.
Positive
- Successful upsize of the offering from €750M to €850M indicates strong investor demand
- Strengthens financial flexibility with additional liquidity for strategic initiatives
- Demonstrates ability to access European debt markets at competitive rates
Negative
- Additional debt increases interest expense and leverage
- 4.250% interest rate represents a significant cost of capital in the current market
News Market Reaction – BALL
In the trading session that priced this news, BALL gained 2.11%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Ball intends to use the net proceeds from the offering, together with cash on hand, for general corporate purposes, which may include the refinancing or repayment of debt, potential investments in strategic alliances and acquisitions, working capital, pension contributions or capital expenditures. Prior to the application of such proceeds, Ball intends to repay outstanding borrowings under its
BNP PARIBAS, Deutsche Bank Securities Inc., Crédit Agricole Corporate and Investment Bank and UniCredit Bank GmbH 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 will be 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 from BNP PARIBAS, 16 boulevard des Italiens, 75009
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
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," 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, the cautionary statements referenced below. 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, which are available on Ball's website and at www.sec.gov.
In any EEA Member State, this press release is only addressed to and is only directed at qualified investors (within the meaning of Article 2(e) of Regulation (EU) 2017/1129 (the "Prospectus Regulation")) in that Member State. In the
In connection with any issuance of the Notes, a stabilizing manager (or persons acting on its behalf) may over-allot Notes or effect transactions with a view to supporting the market price of the Notes at a level higher than that which might otherwise prevail. However, there is no assurance that the stabilizing manager (or any person acting on behalf of the stabilizing manager) will undertake stabilization action. Any stabilization action may begin on or after the date on which adequate public disclosure of the terms of the offer of the Notes is made and, if begun, may be ended at any time, but it must end no later than the earlier of 30 days after the issue date of the Notes and 60 days after the date of the allotment of the Notes, as applicable. Any stabilization action or over-allotment must be conducted by the stabilizing manager (or persons acting on its behalf) in accordance with all applicable laws and rules.
Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail investors in the EEA.
Manufacturer target market (
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SOURCE Ball Corporation