Berry Global Group Inc Stock Price, News & Analysis

Berry Global Group, Inc. (NYSE: BERY) is set to develop an International Center of Excellence and Circular Innovation Hub in Barcelona, Spain by Q3 2023. This initiative aims to provide international customers access to innovative, circular products while fostering sustainable packaging solutions.

The center will create job opportunities, enhance collaboration, and support Berry’s commitment to diversity by hiring local talent. It will facilitate R&D, focusing on recycled content, waste minimization, and improved recyclability.

The new hub will be strategically located near Barcelona’s international airport, promoting global collaboration.

Berry Global Group, Inc. (NYSE: BERY) is expanding its stretch film manufacturing facility in Lewisburg, Tennessee by 25,000 square feet, aiming for completion by early 2024. This expansion will support increased production capacity for sustainable stretch films by adding three new cast lines and upgrading the existing reprocessing system. The project will create ten new jobs and enhance Berry's capability to meet growing customer demand for innovative film solutions that contribute to a circular economy. The first new cast line will add 20 million pounds of capacity for ultra-high-performance films, with plans for two additional lines. Berry's offerings include Transcend™ and Stratos™ films, designed to minimize virgin plastic use while ensuring strong load containment during transport.

Berry Global Group, Inc. (NYSE: BERY) is set to report its second fiscal quarter 2023 results on May 4, 2023, before the market opens. A conference call will follow at 10 a.m. Eastern Time, available via telephone and webcast. Interested participants can register ahead of time for the call or access it through Berry's investor relations website. The company emphasizes its commitment to innovative packaging and sustainability, serving various customers globally with over 46,000 employees across more than 265 locations. For updates and future earnings reports, investors are encouraged to utilize the available online resources.

Berry Global Group, Inc. (NYSE: BERY) announced a revised tender offer for its 0.95% First Priority Senior Secured Notes due 2024. The aggregate principal amount has increased from $100 million to $495.4 million. The Early Settlement Date is expected on March 30, 2023, with a final expiration time extended to April 10, 2023. Holders of notes tendered by March 24 will receive an Early Tender Consideration of $964.15 per $1,000 principal amount. The company does not anticipate proration due to sufficient tendered amounts. For more details, the company has appointed Citigroup Global Markets as dealer manager and Global Bondholder Services as the depositary.

Berry Global Group, Inc. (NYSE: BERY) has announced the pricing of a private placement by its subsidiary, Berry Global, Inc., to issue $500,000,000 in First Priority Senior Secured Notes due 2028. The Notes will bear interest at 5.50%, payable semiannually, starting October 15, 2023, with maturity on April 15, 2028. The proceeds will be used to repurchase certain existing notes, prepay term loans, and cover related expenses. The offering is limited to qualified institutional buyers and will close around March 30, 2023. The Notes will be guaranteed by Berry and its subsidiaries, ranking equally with existing unsubordinated debt.

Berry Global Group, Inc. (NYSE:BERY) announced plans through its subsidiary to issue a new series of first priority senior secured notes. The net proceeds are designated for repurchasing existing notes, paying down term loans, and covering related fees. This offering targets qualified institutional buyers under Rule 144A and non-U.S. investors under Regulation S, with no registration under U.S. securities laws. The announcement emphasizes Berry's innovative approach to packaging and engineered products, along with its sustainability efforts. Forward-looking statements highlight potential risks including significant indebtedness and market volatility stemming from geopolitical issues.

Berry Global Group, Inc. (NYSE: BERY) has amended its tender offer for its 0.95% First Priority Senior Secured Notes due 2024, extending key dates. The early tender time is now 5:00 p.m. on March 24, 2023, with final expiration on April 6, 2023. The company aims to purchase up to $100 million of the outstanding $774.1 million notes. As of March 23, 2023, approximately $495.1 million has been tendered. Holders may receive an early tender premium of $30 per $1,000 if submitted by the early tender deadline. Payments for accepted notes will occur on the final settlement date of April 10, 2023. Further details are outlined in the Offer to Purchase document.

Berry Global Group, Inc. (NYSE: BERY) has announced an amendment to its previously disclosed tender offer for its 0.95% First Priority Senior Secured Notes due 2024. The tender offer's early tender deadline is now extended to 5:00 p.m. on March 23, 2023, with the price determination time set for 10:00 a.m. on March 24, 2023. The company aims to purchase up to $100,000,000 of the outstanding $774,117,000 in notes, with $494,997,000 already tendered. The final settlement date is projected for April 6, 2023, subject to conditions being met.