Ball Announces Completion of Credit Facilities
Ball Corporation (NYSE: BALL) has successfully closed $3.1 billion in new senior secured credit facilities, which will refinance existing loans and support general corporate purposes. The facilities include a U.S. dollar revolving facility, a multicurrency revolving facility, and a U.S. dollar term loan facility maturing in 2027. CFO Scott C. Morrison highlighted the favorable financing conditions from a diverse bank syndicate, enhancing the company's long-term capital structure. The firm reported $13.8 billion in net sales for 2021.
- Successfully closed $3.1 billion in new senior secured credit facilities.
- Refinancing existing debt improves financial flexibility.
- Strong balance sheet supports competitive long-term capital structure.
- None.
WESTMINSTER, Colo., June 28, 2022 /PRNewswire/ -- Ball Corporation (NYSE: BALL) announced it has completed the closing of its new revolver and term loan senior secured credit facilities that refinance its existing senior secured credit facilities entered into on March 25, 2019.
The new
"These new credit facilities represent attractive financing from a diverse bank syndicate, as well as the flexibility to execute future corporate actions," said Scott C. Morrison, executive vice president and chief financial officer. "Our solid balance sheet and recent financings provide us with a very competitive, long-term capital structure to generate value for our shareholders in 2022 and beyond."
About Ball Corporation
Ball Corporation supplies innovative, sustainable aluminum packaging solutions for beverage, personal care and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government. Ball Corporation and its subsidiaries employ 24,300 people worldwide and reported 2021 net sales of
Forward-Looking Statements
This release contains "forward-looking" statements concerning future events and financial performance. Words such as "expects," "anticipates," "estimates," "believes," 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. The Company 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 our Form 10-K, which are available on our website and at www.sec.gov. Additional factors that might affect: a) our packaging segments include product capacity, supply, and demand constraints and fluctuations and changes in consumption patterns; availability/cost of raw materials, equipment, and logistics; competitive packaging, pricing and substitution; changes in climate and weather; footprint adjustments and other manufacturing changes, including the startup of new facilities and lines; failure to achieve synergies, productivity improvements or cost reductions; unfavorable mandatory deposit or packaging laws; customer and supplier consolidation; power and supply chain interruptions; changes in major customer or supplier contracts or loss of a major customer or supplier; inability to pass through increased costs; war, political instability and sanctions, including relating to the situation in Russia and Ukraine and its impact on our supply chain and our ability to operate in Russia and the EMEA region generally; changes in foreign exchange or tax rates; and tariffs, trade actions, or other governmental actions, including business restrictions and shelter-in-place orders in any country or jurisdiction affecting goods produced by us or in our supply chain, including imported raw materials; b) our aerospace segment include funding, authorization, availability and returns of government and commercial contracts; and delays, extensions and technical uncertainties affecting segment contracts; c) the Company as a whole include those listed above plus: the extent to which sustainability-related opportunities arise and can be capitalized upon; changes in senior management, succession, and the ability to attract and retain skilled labor; regulatory actions or issues including those related to tax, ESG reporting, competition, environmental, health and workplace safety, including U.S. FDA and other actions or public concerns affecting products filled in our containers, or chemicals or substances used in raw materials or in the manufacturing process; technological developments and innovations; the ability to manage cyber threats; litigation; strikes; disease; pandemic; labor cost changes; inflation; rates of return on assets of the Company's defined benefit retirement plans; pension changes; uncertainties surrounding geopolitical events and governmental policies, including policies, orders, and actions related to COVID-19; reduced cash flow; interest rates affecting our debt; and successful or unsuccessful joint ventures, acquisitions and divestitures, including the announced sale of our Russian business, and their effects on our operating results and business generally.
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SOURCE Ball Corporation
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