Berry braves UK election week to launch €725m refi

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By Karoliina Liimatainen
09 Dec 2019

Another packaging company is hunting for better financing terms in the issuer-friendly European high yield bond market. Berry Global follows companies such as Crown, Ball, Smurfit Kappa, Owen-Illinois and Ardagh with an ambitious refinancing that could be priced as early as Thursday — the day of the UK general election.

Berry Global, the Ba3/BB+ rated Indiana-based Fortune 500 packaging company, is issuing €725m of senior secured first-lien notes in five and seven year tranches. The notes are non-callable for two and three years, consecutively.

Citi is the left lead on the issue with Goldman Sachs, Wells Fargo, Barclays, ...

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