Ball secures $2.5B credit facilities

BROOMFIELD — Ball Corp. (NYSE: BLL) announced Monday it had completed closing of its new $2.55 billion revolving and term loan senior secured credit facilities.

The 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 2024,” according to a company news release.

Proceeds will be used to refinance existing credit facilities and for general business purposes.

“These new credit facilities represent attractive financing from a diverse bank syndicate, as well as the flexibility to execute future corporate actions,” Ball chief financial officer Scott Morrison said in a prepared statement. “Our solid balance sheet and recent financings provide us with a very competitive, long-term capital structure to generate value for our shareholders in 2019 and beyond.”

on Facebook on LinkedIn