Delaware
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1-35672
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20-5234618
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(State of incorporation)
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(Commission File Number)
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(IRS Employer
Identification No.)
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☐
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Written communications pursuant to Rule 425 under the Securities Act.
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☐
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act.
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
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Item 1.01 |
Entry into a Material Definitive Agreement.
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Item 2.03 |
Creation of a Direct Financial Obligation.
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Item 9.01 |
Financial Statements and Exhibits.
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Exhibit
Number |
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Description
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10.1
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Amendment No. 7 to the Amended and Restated Credit Agreement, dated as of March 24, 2017, by and among Berry Plastics Group, Inc., Berry Plastics Corporation, certain domestic subsidiaries party thereto, Bank of America, N.A., as collateral agent and administrative agent, and the lenders party thereto.
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BERRY PLASTICS GROUP, INC. | |||
(Registrant) | |||
Dated: March 27, 2017
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By:
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/s/ Jason K. Greene | |
Name: | Jason K. Greene | ||
Title: | Executive Vice President, Chief Legal Officer and Secretary | ||
(a)
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The representations and warranties set forth in the Amended Credit Agreement and the other Loan Documents shall be true and correct in all material respects as of the Amendment Effective Date, with the same effect as though made on and as of such date; provided to the extent such representations and warranties expressly relate to an earlier date (in which case such representations and warranties shall be true and correct in all material respects as of such earlier date); provided, further, that any representation and warranty that is qualified as to "materiality," "Material Adverse Effect" or similar language is true and correct (after giving effect to any qualification therein) in all respects on such respective dates.
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(b)
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Both on and as of the date hereof and on and as of the Amendment Effective Date, both before and after giving effect to this Amendment, no event has occurred and is continuing that constitutes a Default or an Event of Default under the Unamended Credit Agreement, the Amended Credit Agreement and the other Loan Documents.
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(c)
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The execution, delivery of, and the performance of this Amendment by Holdings, the Company and the other Borrowers are permitted under the terms of all Material Indebtedness.
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(d)
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The Administrative Agent (or its counsel) shall have received from Holdings, the Company, the other Borrowers and each Subsidiary Loan Party, the Administrative Agent and the Additional Revolving Lenders party hereto either (i) a counterpart of this Amendment signed on behalf of such party or (ii) written evidence satisfactory to the Administrative Agent (which may include telecopy transmission of a signed signature page of this Amendment) that such party has signed a counterpart of this Amendment.
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(e)
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The Administrative Agent shall have received, on behalf of itself and the Lenders and each Issuing Bank on the Amendment Effective Date, a favorable written opinion of (i) Bryan Cave LLP, special counsel for the Loan Parties, (ii) Jason Greene, in-house counsel for the Loan Parties, and (iii) Godfrey & Kahn, Wisconsin counsel for certain of the Loan Parties, in each case (A) dated the Amendment Effective Date, (B) addressed to the Administrative Agent and the Lenders, and (C) in form and substance reasonably satisfactory to the Administrative Agent and covering such other matters relating to the Loan Documents as the Administrative Agent shall reasonably request.
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(f)
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The Administrative Agent shall have received in the case of each Loan Party each of the items referred to in clauses (i), (ii), (iii) and (iv) below:
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(i)
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only if such document or item has not previously been delivered, or shall have changed since the later of (x) its last date of its previous delivery to the Administrative Agent pursuant to the Unamended Credit Agreement, and (y) the Amendment Effective Date, a copy of the certificate or articles of incorporation, certificate of limited partnership or certificate of formation, as applicable, including all amendments thereto, of each Loan Party, (A) in the case of a corporation, certified as of a recent date of the Amendment Effective Date by the Secretary of State (or other similar official) of the jurisdiction of its organization, and a certificate as to the good standing (to the extent such concept or a similar concept exists under the laws of such jurisdiction) of each such Loan Party as of a recent date of the Amendment Effective Date or (B) in the case of a partnership or limited liability company, certified by the Secretary or Assistant Secretary of each such Loan Party;
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(ii)
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a certificate of the Secretary or Assistant Secretary or similar officer of each Loan Party dated the Amendment Effective Date and certifying:
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(A)
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(1) that attached thereto is a true and complete copy of the bylaws (or partnership agreement, limited liability company agreement, operating agreement or other equivalent governing documents) of such Loan Party as in effect on the Amendment Effective Date and at all times since the date of the resolutions described in clause (B) below, or (2) that the by-laws (or partnership agreement, limited liability company agreement or other equivalent governing documents) of such Loan Party, as in effect on the Amendment Effective Date, have not been modified, rescinded or amended since the latter of (x) its last date of delivery to the Administrative Agent pursuant to the Unamended Credit Agreement and (y) the Amendment Effective Date,
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(B)
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that attached thereto is a true and complete copy of resolutions duly adopted by the Board of Directors (or equivalent governing body) of such Loan Party (or its managing general partner or managing member) authorizing the execution, delivery and performance of the Loan Documents to which such person is a party and, in the case of the Borrowers, the borrowings thereunder, and that such resolutions have not been modified, rescinded or amended and are in full force and effect on the Amendment Effective Date,
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(C)
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that the certificate or articles of incorporation, certificate of limited partnership or certificate of formation of such Loan Party has not been amended since the date of the last amendment thereto disclosed or delivered pursuant to clause (i) above,
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(D)
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as to the incumbency and specimen signature of each officer executing any Loan Document or any other document delivered in connection herewith on behalf of such Loan Party, and
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(E)
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as to the absence of any pending proceeding for the dissolution or liquidation of such Loan Party or, to the knowledge of such person, threatening the existence of such Loan Party;
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(iii)
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a certificate of a director or another officer as to the incumbency and specimen signature of the Secretary or Assistant Secretary or similar officer executing the certificate pursuant to clause (ii) above; and
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(iv)
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such other documents as the Administrative Agent or the Additional Revolving Lenders on the Amendment Effective Date may reasonably request (including without limitation, tax identification numbers, addresses and any information requested pursuant to "know your customer" requirements).
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(g)
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the Administrative Agent shall have received from a Financial Officer of the Company, an officer's certificate to the effect that the execution, delivery and performance of this Amendment, the Amended Credit Agreement and the other Loan Documents by the Loan Parties will not conflict with, result in a breach of or constitute a default under, or give rise to a right of, or result in, any cancellation or acceleration under, any indenture, credit or loan agreement or other documents or instruments to which any Loan Party is party with respect to any Material Indebtedness.
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(h)
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The Agents shall have received to the extent invoiced, reimbursement or payment of all reasonable outofpocket expenses (including reasonable fees, charges and disbursements of Cahill Gordon & Reindel LLP and local counsel) required to be reimbursed or paid by the Loan Parties hereunder or under any Loan Document.
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(i)
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The Administrative Agent shall have received for the ratable account and benefit of each Additional Revolving Lender executing this Amendment a nonrefundable fee equal to 0.10% of the aggregate principal amount of Additional Revolving Commitments of such Additional Revolving Lender.
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BERRY PLASTICS CORPORATION
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By:
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/s/ Jason K. Greene
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Name: Jason K. Greene
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Title: Executive Vice President, General Counsel and Secretary
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BERRY PLASTICS GROUP, INC.
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By:
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/s/ Jason K. Greene
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Name: Jason K. Greene
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Title: Executive Vice President, Chief Legal Officer
and Secretary
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AEROCON, LLC
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AVINTIV ACQUISITION CORPORATION
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AVINTIV INC.
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AVINTIV SPECIALTY MATERIALS INC.
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BERRY PLASTICS ACQUISITION CORPORATION V
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BERRY PLASTICS ACQUISITION CORPORATION XI
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BERRY PLASTICS ACQUISITION CORPORATION XII
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BERRY PLASTICS ACQUISITION CORPORATION XIII
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BERRY GLOBAL FILMS, LLC
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BERRY PLASTICS ACQUISITION LLC X
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BERRY PLASTICS DESIGN, LLC
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BERRY PLASTICS FILMCO, INC.
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BERRY PLASTICS 1K, LLC
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BERRY PLASTICS OPCO, INC.
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BERRY PLASTICS SP, INC.
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BERRY PLASTICS TECHNICAL SERVICES, INC.
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BERRY STERLING CORPORATION
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BPREX BRAZIL HOLDING INC.
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BPREX CLOSURE SYSTEMS, LLC
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BPREX CLOSURES KENTUCKY INC.
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BPREX CLOSURES, LLC
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BPREX DELTA INC.
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BPREX HEALTHCARE BROOKVILLE INC.
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BPREX HEALTHCARE PACKAGING INC.
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BPREX PLASTIC PACKAGING INC.
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BPREX PLASTICS SERVICES COMPANY INC.
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BPREX PRODUCT DESIGN AND ENGINEERING INC.
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BPREX SPECIALTY PRODUCTS PUERTO RICO INC.
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CAPLAS, LLC
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CAPLAS NEPTUNE, LLC
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CAPTIVE PLASTICS HOLDINGS, LLC
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CAPTIVE PLASTICS, LLC
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CARDINAL PACKAGING, INC.
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CHICOPEE, INC.
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COVALENCE SPECIALTY ADHESIVES LLC
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COVALENCE SPECIALTY COATINGS LLC
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CPI HOLDING CORPORATION
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By:
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/s/ Jason K. Greene
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Name: Jason K. Greene
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Title: Executive Vice President, General Counsel and Secretary
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DOMINION TEXTILE (USA), L.L.C.
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FABRENE, L.L.C.
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FIBERWEB GEOS, INC.
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FIBERWEB, LLC
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KERR GROUP, LLC
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KNIGHT PLASTICS, LLC
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OLD HICKORY STEAMWORKS, LLC
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PACKERWARE, LLC
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PESCOR, INC.
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PGI EUROPE, INC.
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PGI POLYMER, INC.
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PLIANT INTERNATIONAL, LLC
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PLIANT, LLC
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POLYSEAL, LLC
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PRIME LABEL & SCREEN INCORPORATED
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PRISTINE BRANDS CORPORATION
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PROVIDENCIA USA, INC.
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ROLLPAK CORPORATION
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SAFFRON ACQUISITION, LLC
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SEAL FOR LIFE INDUSTRIES, LLC
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SETCO, LLC
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SUN COAST INDUSTRIES, LLC
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UNIPLAST HOLDINGS, LLC
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UNIPLAST U.S., INC.
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VENTURE PACKAGING, INC.
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By:
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/s/ Jason K. Greene
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Name: Jason K. Greene
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Title: Executive Vice President, General Counsel
and Secretary
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GRAFCO INDUSTRIES LIMITED PARTNERSHIP
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By: CAPLAS NEPTUNE, LLC
its General Partner
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By:
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/s/ Jason K. Greene
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Name: Jason K. Greene
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Title: Executive Vice President, General Counsel
and Secretary
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BANK OF AMERICA, N.A.,
as Administrative Agent and Collateral Agent, and as a Lender |
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By:
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/s/ Robert Q. Mahoney
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Name: Robert Q Mahoney
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Title: Senior Vice President
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JPMORGAN CHASE BANK, N.A.,
as a Lender |
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By:
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/s/ Hilda C. Carbajal
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Name: Hilda C. Carbajal
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Title: Authorized Officer
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CITIBANK, N.A.,
as a Lender |
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By:
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/s/ David L. Smith
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Name: David L. Smith
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Title: Vice President and Director
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HSBC Bank USA, National Association
as a Lender |
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By:
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/s/ John Reid
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Name: John Reid
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Title: SVP
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Lender
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Commitment
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JPMorgan Chase Bank, N.A.
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$
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40,000,000.00
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Citibank, N.A.
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$
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30,000,000.00
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HSBC Bank USA,N.A.
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$
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20,000,000.00
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Bank of America, N.A.
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$
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10,000,000.00
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