Berry International Group Costs $500M Notes Providing By

Berry International Group (BERY) Costs $500M Notes Providing

Berry International Group, Inc. (NYSE:) (“Berry”), a number one provider of packaging options for shopper items and industrial merchandise, introduced as we speak the pricing of a non-public placement launched March 27, 2023, by its wholly owned subsidiary, Berry International, Inc. (the “Issuer”). The Issuer will situation $500,000,000 of its First Precedence Senior Secured Notes due 2028 (the “Notes”). The closing of the non-public placement providing is anticipated to happen on or about March 30, 2023.

The Notes will bear curiosity at a price of 5.50%, payable semiannually, in money in arrears, on April 15 and October 15 of every yr, commencing on October 15, 2023. The Notes will mature on April 15, 2028.

The Notes can be assured by Berry and every of the Issuer’s current and future direct or oblique home subsidiaries that ensures the Issuer’s senior secured credit score amenities and current first precedence secured notes, topic to sure exceptions. The Notes and the ensures thereof can be unsubordinated obligations of the Issuer and can rank equally in proper of fee with all the Issuer’s, and, within the case of the ensures, to all the guarantors’, current and future unsubordinated debt. The assure by Berry can be unsecured. The Notes can be secured on a second precedence foundation by liens (topic to sure exceptions and permitted liens) on accounts receivable, stock and sure associated property that safe the Issuer’s revolving credit score facility, and on a primary precedence foundation by liens on the property and property of the Issuer and the subsidiary guarantors that safe the Issuer’s senior secured time period mortgage credit score facility, topic to sure exceptions.

The web proceeds from the providing are meant to repurchase sure of the Issuer’s 0.95% First Precedence Senior Secured Notes due 2024 validly tendered and accepted for repurchase within the Issuer’s beforehand introduced tender supply (the “Tender Supply”), to prepay a portion of sure current time period loans of the Issuer and to pay sure charges and bills associated to the providing.

The Notes are being supplied solely to individuals moderately believed to be certified institutional patrons in reliance on Rule 144A underneath the Securities Act of 1933, as amended (the “Securities Act”), and outdoors the USA, solely to non-U.S. traders pursuant to Regulation S. The Notes haven’t been registered underneath the Securities Act or any state or different securities legal guidelines and will not be supplied or bought in the USA absent an efficient registration assertion or an relevant exemption from registration necessities or a transaction not topic to the registration necessities of the Securities Act or any state securities legal guidelines.

This press launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase any safety and shall not represent a suggestion, solicitation or sale in any jurisdiction by which such providing, solicitation or sale can be illegal. Any gives of the Notes can be made solely via a non-public providing memorandum.

About Berry

At Berry International Group, Inc. (BERY), we create modern packaging and engineered merchandise that we imagine make life higher for individuals and the planet. We do that on daily basis by leveraging our unmatched international capabilities, sustainability management, and deep innovation experience to serve clients of all sizes around the globe. Harnessing the power in our variety and trade main expertise of 46,000 international workers throughout greater than 265 areas, we accomplice with clients to develop, design, and manufacture modern merchandise with an eye fixed towards the round financial system. The challenges we clear up and the improvements we pioneer profit our clients at each stage of their journey. For extra info, go to our web site, or join with us on LinkedIn or Twitter.

Ahead Trying Statements

Sure statements and knowledge on this launch that aren’t historic, together with statements referring to the Notes, the Tender Supply and the anticipated future efficiency of the Firm, could represent “ahead wanting statements” inside the that means of the federal securities legal guidelines and are offered pursuant to the secure harbor provisions of the Personal Securities Litigation Reform Act of 1995. You may determine forward-looking statements as a result of they comprise phrases resembling “believes,” “expects,” “could,” “will,” “ought to,” “would,” “may,” “seeks,” “roughly,” “intends,” “plans,” “estimates,” “tasks,” “outlook,” “anticipates” or “wanting ahead,” or comparable expressions that relate to our technique, plans, intentions, or expectations. All statements we make referring to our estimated and projected earnings, margins, prices, expenditures, money flows, development charges, and monetary outcomes or to our expectations relating to future trade developments are forward-looking statements. As well as, we, by way of our senior administration, on occasion make forward-looking public statements regarding our anticipated future operations and efficiency and different developments.

These forward-looking statements are topic to dangers and uncertainties that will change at any time, and subsequently, our precise outcomes could differ materially from those who we anticipated resulting from a wide range of components, together with with out limitation: (1) dangers related to our substantial indebtedness and debt service; (2) modifications in costs and availability of resin and different uncooked supplies and our capacity to cross on modifications in uncooked materials costs to our clients on a well timed foundation; (3) dangers associated to acquisitions or divestitures and integration of acquired companies and their operations, and realization of anticipated price financial savings and synergies; (4) dangers associated to worldwide enterprise, together with transactional and translational overseas foreign money alternate price danger and the dangers of compliance with relevant export controls, sanctions, anti-corruption legal guidelines and rules; (5) will increase in the price of compliance with legal guidelines and rules, together with environmental, security, and local weather change legal guidelines and rules; (6) labor points, together with the potential labor shortages, shutdowns or strikes, or the failure to resume efficient bargaining agreements; (7) dangers associated to disruptions within the total international financial system, persistent inflation, provide chain disruptions, and the monetary markets that will adversely affect our enterprise, together with on account of the Russia-Ukraine battle; (8) danger of catastrophic lack of considered one of our key manufacturing amenities, pure disasters, and different unplanned enterprise interruptions; (9) dangers associated to weather-related occasions and longer-term local weather change patterns; (10) dangers associated to the failure of, inadequacy of, or assaults on our info expertise methods and infrastructure; (11) dangers that our restructuring applications could entail larger implementation prices or end in decrease price financial savings than anticipated; (12) dangers associated to future write-offs of considerable goodwill; (13) dangers of competitors, together with overseas competitors, in our current and future markets; (14) dangers associated to market circumstances related to our share repurchase program; (15) dangers associated to market disruptions and elevated market volatility on account of Russia’s invasion of Ukraine; and (16) the opposite components mentioned within the part titled “Threat Elements” in our Annual Report on Kind 10-Okay filed on November 18, 2022 and subsequent filings with the Securities and Trade Fee. We warning you that the foregoing listing of essential components could not comprise all the materials components which might be essential to you. Accordingly, readers mustn’t place undue reliance on these statements. All forward-looking statements are primarily based upon info out there to us on the date hereof. All forward-looking statements are made solely as of the date hereof and we undertake no obligation to replace or revise any forward-looking assertion on account of new info, future occasions or in any other case, besides as in any other case required by regulation.

Investor Contact:

Dustin Stilwell

+1 812.306.2964

Supply: Berry International Group, Inc.

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