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Berry Global announced the pricing of a $800M private placement of First Priority Senior Secured Notes due 2031. The notes bear an interest rate of 5.800%, payable semiannually, and will mature on June 15, 2031. The offering is expected to close on or about May 28, 2024, subject to standard closing conditions.
The proceeds will be used to repurchase existing notes due 2026, cover related fees, and potentially fund general corporate purposes. The notes are reserved for qualified institutional buyers under Rule 144A and non-U.S. investors under Regulation S, and are not registered under the Securities Act.
Berry Global, a leading packaging solutions provider, announced a Tender Offer to purchase up to $500 million of its outstanding 4.875% First Priority Senior Secured Notes due 2026. The offer is subject to various conditions and will expire on June 11, 2024. Holders of the Notes are advised to carefully review the Offer to Purchase before making a decision.
Berry Global Group, Inc. (NYSE: BERY) announced the proposed offering of first priority senior secured notes by its subsidiary, Berry Global, Inc. The net proceeds will be used for various purposes including repurchasing existing notes, paying fees and expenses, and funding general corporate activities.
Berry announced their second quarter 2024 results, reporting net sales of $3.1 billion, operating income of $208 million, and earnings per share of $0.98. They increased their cost savings program target by $25 million and closed two divestitures. Berry reaffirmed their fiscal 2024 outlook with adjusted EPS of $7.35 - $7.85 and free cash flow of $800 - $900 million. They also declared a quarterly cash dividend of $0.275 per share.
Berry Global Group, Inc. (NYSE: BERY) has announced a quarterly cash dividend of $0.275 per share. The payment date is set for June 17, 2024, for stockholders of record as of June 3, 2024.
