EVANSVILLE, Ind.--(BUSINESS WIRE)--May 27, 2014--
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 9½ percent Second Priority
Senior Secured Notes due 2018 issued under an indenture dated as of
April 30, 2010 (the "Notes").
The Tender Offer expired at midnight, New York City time, on May 23,
2014 (the "Expiration Date"). No additional Notes were tendered after
the expiration of the consent payment deadline on May 9, 2014, 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 $419,741,000 aggregate principal amount of Notes, representing 83.95
percent of the outstanding Notes. On May 12, 2014, 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 May 12, 2014,
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.
Credit Suisse Securities (USA) LLC 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 over $4.6
billion in fiscal 2013. 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
Source: Berry Plastics Group, Inc.
Berry Plastics Group, Inc.