Berry Global Group, Inc. (NYSE: BERY) (“Berry”) announced today
the commencement by Berry Global, Inc., Berry’s wholly owned
subsidiary (the “Issuer”), of an offer to exchange up to
$500,000,000 of the Issuer’s new 5.50% First Priority Senior
Secured Notes due 2028 (the “Exchange Notes”), for an equal amount
of the Issuer’s outstanding unregistered 5.50% First Priority
Senior Secured Notes due 2028 (the “Outstanding Notes”), in a
transaction registered under the Securities Act of 1933, as
amended. The exchange offer is being conducted upon the terms and
subject to the conditions set forth in a prospectus dated January
29, 2024, and the related letter of transmittal.
The Exchange Notes are identical in all material respects to the
Outstanding Notes, except that (i) the Exchange Notes will be
registered under the Securities Act of 1933 and will not bear any
legend restricting their transfer; (ii) the Exchange Notes bear a
different CUSIP number than the Outstanding Notes; (iii) the
Exchange Notes will not be subject to transfer restrictions or
entitled to registration rights; and (iv) the Exchange Notes will
not be entitled to additional interest provisions applicable to the
Outstanding Notes in some circumstances relating to the timing of
the exchange offers.
The exchange offer is limited to holders of the Outstanding
Notes. The exchange offer is scheduled to expire at 5:00 p.m.
Eastern Time on February 27, 2024, unless extended. Outstanding
Notes tendered pursuant to the exchange offer may be withdrawn at
any time prior to the expiration date by following the procedures
set forth in the offering prospectus and the related letter of
transmittal.
Copies of the prospectus and the related letter of transmittal
may be obtained from U.S. Bank Trust Company, National Association,
which is serving as the exchange agent for the exchange offer. The
address, telephone and facsimile number of U.S. Bank Trust Company,
National Association are as follows:
By Hand, Overnight Mail, Courier, or
Registered or Certified Mail:
By Facsimile:
For Information or Confirmation by
Telephone:
Corporate Actions
111 Fillmore Ave E
Mail Station EP-MN-WS2N
St. Paul, MN 55107 1402
Attention: Specialty Finance Group
Reference: Berry Global, Inc.
(651) 466-7367
Attention: Specialty Finance Group
(800) 934-6802
About Berry Global
At Berry Global Group, Inc. (NYSE: BERY), we create innovative
packaging and engineered products that we believe make life better
for people and the planet. We do this every day by leveraging our
unmatched global capabilities, sustainability leadership, and deep
innovation expertise to serve customers of all sizes around the
world. Harnessing the strength in our diversity and
industry-leading talent of over 40,000 global employees across more
than 250 locations, we partner with customers to develop, design,
and manufacture innovative products with an eye toward the circular
economy. The challenges we solve and the innovations we pioneer
benefit our customers at every stage of their journey. For more
information, visit our website, or connect with us on LinkedIn or
X. (BERY-F)
Forward Looking Statements
Certain statements and information in this release that are not
historical, including statements relating to the Notes and the
expected future performance of the Company, may constitute “forward
looking statements” within the meaning of the federal securities
laws and are presented pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. You can
identify forward-looking statements because they contain words such
as “believes,” “expects,” “may,” “will,” “should,” “would,”
“could,” “seeks,” “approximately,” “intends,” “plans,” “estimates,”
“projects,” “outlook,” “anticipates” or “looking forward,” or
similar expressions that relate to our strategy, plans, intentions,
or expectations. All statements we make relating to our estimated
and projected earnings, margins, costs, expenditures, cash flows,
growth rates, and financial results or to our expectations
regarding future industry trends are forward-looking statements. In
addition, we, through our senior management, from time to time make
forward-looking public statements concerning our expected future
operations and performance and other developments.
These forward-looking statements are subject to risks and
uncertainties that may change at any time, and therefore, our
actual results may differ materially from those that we expected
due to a variety of factors, including without limitation: (1)
risks associated with our substantial indebtedness and debt
service; (2) changes in prices and availability of resin and other
raw materials and our ability to pass on changes in raw material
prices to our customers on a timely basis; (3) risks related to
acquisitions or divestitures and integration of acquired businesses
and their operations, and realization of anticipated cost savings
and synergies; (4) risks related to international business,
including transactional and translational foreign currency exchange
rate risk and the risks of compliance with applicable export
controls, sanctions, anti-corruption laws and regulations; (5)
increases in the cost of compliance with laws and regulations,
including environmental, safety, and climate change laws and
regulations; (6) labor issues, including the potential labor
shortages, shutdowns or strikes, or the failure to renew effective
bargaining agreements; (7) risks related to disruptions in the
overall global economy, persistent inflation, supply chain
disruptions, and the financial markets that may adversely impact
our business; (8) risk of catastrophic loss of one of our key
manufacturing facilities, natural disasters, and other unplanned
business interruptions; (9) risks related to weather-related events
and longer-term climate change patterns; (10) risks related to the
failure of, inadequacy of, or attacks on our information technology
systems and infrastructure; (11) risks that our restructuring
programs may entail greater implementation costs or result in lower
cost savings than anticipated; (12) risks related to future
write-offs of substantial goodwill; (13) risks of competition,
including foreign competition, in our existing and future markets;
(14) risks related to market conditions associated with our share
repurchase program; (15) risks related to market disruptions and
increased market volatility; and (16) the other factors and
uncertainties discussed in the section titled “Risk Factors” in our
Annual Report on Form 10-K filed on November 17, 2023 and
subsequent filings with the Securities and Exchange Commission. We
caution you that the foregoing list of important factors may not
contain all of the material factors that are important to you.
Accordingly, readers should not place undue reliance on those
statements. All forward-looking statements are based upon
information available to us on the date hereof. All forward-looking
statements are made only as of the date hereof and we undertake no
obligation to update or revise any forward-looking statement as a
result of new information, future events or otherwise, except as
otherwise required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240129221430/en/
Investor Contact: Dustin Stilwell +1 812.306.2964
ir@berryglobal.com
Global Media Contact: Anna Raben +1 812.492.1387
mediarelations@berryglobal.com
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