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PRESS RELEASE

Ball Corporation launches USD 750M senior notes offering to strengthen liquidity

EDITED BY : 2MINS READ

Ball Corporation, a global aluminium packaging firm headquartered in Colorado, announced a public offering of USD 750 million aggregate principal amount of Senior Notes due 2033 (the "Notes") on August 7. It is currently trading at USD 52.55. The company updated, “The exact amount, terms and timing of the offering will depend on market conditions and other factors.”

Ball Corporation launches $750M senior notes offering to strengthen liquidity

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The proceeds from the public offering sale are expected to be used for general corporate purposes, which may include refinancing or repayment of liabilities. Importantly, Ball said it intends to repay all of its outstanding borrowings under each of its U.S. dollar and multi-currency revolving credit facilities "without a reduction in commitment", using a portion of the net proceeds plus available cash. The company noted, “The exact use and timing of such proceeds are at the discretion of Ball’s management.”

Top banks back Ball’s liquidity boost

The offering is being managed by a high-profile banking syndicate, with BofA Securities, Goldman Sachs & Co. LLC, Citigroup Global Markets Inc., and Morgan Stanley & Co. LLC serving as global coordinators and joint book-running managers. The offering will be made under an existing shelf registration statement on Form S-3 filed with the U.S. Securities and Exchange Commission.

Debt offerings like this are frequently taken as a strategic move to improve liquidity, particularly in capital-intensive industries such as aluminium packaging that often require major capital expenditures and acquisitions.

Strategic growth through European acquisition

The debt raised comes after the substantial acquisition announced in late October 2024. Before reporting its Q3 financial results, Ball purchased Alucan Entec SA, a European aluminium packaging company, for USD 8 million, which is “thought to have positively impacted year-on-year earnings per share”.

Alucan Entec SA has two production facilities based at key locations in Lummen, Belgium, and Llinars del Vallés, Spain, that bolster Ball's extruded aluminium aerosol and bottle capabilities globally. The deal expands Ball's European footprint, where there is growing demand for lightweight, infinitely recyclable aluminium packaging across both consumer and industrial markets.

According to analysts, Ball's combined strategy of taking long-term debt while expanding the manufacturing network helps meet shifts in demand driven by sustainability. If Europe adopts tighter regulations on packaging and the trend continues for consumers to prefer aluminium packaging over plastic, the impact of the acquisition will become even greater.

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EDITED BY : 2MINS READ

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