EVANSVILLE, Ind.--(BUSINESS WIRE)--Jun. 19, 2015--
Berry Plastics Group, Inc. (NYSE: BERY; “Berry Group”) announced today
that Berry Plastics Corporation (the “Issuer”), Berry Group’s wholly
owned subsidiary, has completed its tender offer (the "Tender Offer") to
purchase any and all of its outstanding 9.75 percent Second Priority
Senior Secured Notes due 2021 issued under an indenture dated as of
November 19, 2010 (the "Notes").
The Tender Offer expired on June 18, 2015 (the "Expiration Date"). No
additional Notes were tendered after the expiration of the consent
payment deadline on June 4, 2015, at 5:00 p.m., New York City time (the
"Consent Date") and before the Expiration Date. As previously announced,
the Issuer received tenders from holders of $503,186,000 aggregate
principal amount of Notes, representing 62.90 percent of the then
outstanding Notes. On June 5, 2015, the Issuer accepted for early
payment the Notes tendered prior to the Consent Date.
As previously announced, the Issuer intends to redeem the Notes that
remain outstanding after completion of the Tender Offer in accordance
with the terms of the indenture governing the Notes. On June 11, 2015,
the Issuer provided notice to the trustee under the indenture of such
redemption and irrevocably deposited cash with the trustee in respect of
the Notes in an amount sufficient to redeem the outstanding Notes.
Citigroup Global Markets Inc. acted as sole dealer manager and
solicitation agent in connection with the Tender Offer.
About Berry Plastics
Berry Plastics Group, Inc. is a leading provider of value-added plastic
consumer packaging and engineered materials delivering high-quality
customized solutions to our customers with annual net sales of $5.0
billion in fiscal 2014. With world headquarters in Evansville, Indiana,
the Company’s common stock is listed on the New York Stock Exchange
under the ticker symbol BERY. For additional information, visit the
Company’s website at www.berryplastics.com.
Certain statements and information included in this release may
constitute “forward looking statements” within the meaning of the
Federal Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance, or achievements of the companies to be materially different
from any future results, performance, or achievements expressed or
implied in such forward looking statements. Additional discussion of
factors that could cause actual results to differ materially from
management’s projections, forecasts, estimates and expectations is
contained in the companies’ Securities and Exchange Commission filings.
The companies do not undertake any obligation to update any
forward-looking statements, or to make any other forward-looking
statements, whether as a result of new information, future events or
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Source: Berry Plastics Group, Inc.
Berry Plastics Group, Inc.