Ball Corporation announced today 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 June 28, 2022.
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The new USD 3.5 billion senior secured credit facilities include a U.S. dollar revolving facility, a multicurrency revolving facility and a U.S. dollar term loan facility that will mature in 2030. Ball intends to use net proceeds from these credit facilities to refinance its existing senior secured credit facilities and for general corporate purposes. Bank of America acted as Administrative Agent on the transaction.
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"These new credit facilities strengthen our financial position with attractive financing from a diverse bank syndicate, while providing the flexibility to pursue strategic initiatives," said Daniel J. Rabbitt, chief financial officer. "Combined with our solid balance sheet and recent financings, we have built a competitive, long-term capital structure that supports sustainable growth and maximises shareholder value in 2025 and beyond."
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Note: This article has been issued by Ball and has been published by AL Circle with its original information without any modifications or edits to the core subject/data.
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