Ball Corporation filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits
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Item 1.01. Entry Into a Material Definitive Agreement.
On May 19, 2025, Ball Corporation, an Indiana corporation (the “Company”) completed its previously announced underwritten public offering of €850 million aggregate principal amount of 4.250% Senior Notes due 2032 (the “Notes”). The Notes were issued under an Indenture, dated November 27, 2015 (the “Base Indenture”), between the Company and Deutsche Bank Trust Company Americas, as trustee (the “Trustee”), as supplemented by a Seventeenth Supplemental Indenture, dated May 19, 2025, among the Company, the subsidiary guarantors party thereto and the Trustee (the “Seventeenth Supplemental Indenture” and, together with the Base Indenture, the “Indenture”). The Indenture and the form of the Notes, which is attached as an exhibit to the Seventeenth Supplemental Indenture, provide, among other things, that the Notes are senior unsecured obligations of the Company.
Interest is payable on the Notes on January 1 and July 1 of each year beginning on January 1, 2026. The Notes will mature on July 1, 2032.
The Company may redeem the Notes at any time in whole, or from time to time in part, prior to April 1, 2032, at its option at a price equal to 100% of the principal amount plus accrued and unpaid interest to, but excluding, the date of redemption, plus a “make-whole” premium, as described in the Indenture. The Company may also redeem the Notes at any time in whole, or from time to time in part, on or after April 1, 2032, at its option at a price equal to 100% of the principal amount plus accrued and unpaid interest to, but excluding, the date of redemption.
The Company’s payment obligations under the Notes are fully and unconditionally guaranteed on an unsecured senior basis by substantially all of its domestic subsidiaries that guarantee the Company’s existing indebtedness. The Notes are not guaranteed by any of the Company’s foreign subsidiaries.
Subject to certain limitations, in the event of a change of control repurchase event, the Company will be required to make an offer to purchase the Notes at a price equal to 101% of the principal amount of the Notes, plus accrued and unpaid interest, if any, to, but excluding, the date of repurchase. The Indenture also contains certain limitations on the Company’s ability to incur liens and enter into sale lease-back transactions, as well as customary events of default.
A copy of the Base Indenture is incorporated by reference as Exhibit 4.1 to this Current Report on Form 8-K, and a copy of the Seventeenth Supplemental Indenture is attached hereto as Exhibit 4.2 to this Current Report on Form 8-K and is incorporated by reference herein. The above description of the material terms of the Base Indenture, the Seventeenth Supplemental Indenture and the Notes does not purport to be complete and is qualified in its entirety by reference to such Exhibits.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 above with respect to the Notes and the Indenture is hereby incorporated by reference into this Item 2.03, insofar as it relates to the creation of a direct financial obligation.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BALL CORPORATION | |||
| (Registrant) | |||
| By: | /s/ Hannah Lim-Johnson | ||
| Name: | Hannah Lim-Johnson | ||
| Title: | Senior Vice President, Chief Legal Officer and Corporate Secretary | ||
Date: May 19, 2025
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