Key Developments: Ball Corp (BLL)
43.63USD
19 Jun 2013
$0.44 (+1.02%)
$43.19
$43.32
$43.89
$43.13
245,502
1,104,773
$48.50
$39.33
Latest Key Developments (Source: Significant Developments)
Ball Corp Announces Completion Of Credit Facility
Ball Corporation announced it has completed the closing of its new amended and restated senior secured credit facility. The new $1.2 billion senior secured credit facility extends bank maturities through 2018 and provides greater financial flexibility. Full Article
Ball Corp Issues FY 2013 And Long Term EPS Guidance Below Analysts' Estimates-Conference Call
Ball Corp announced that for fiscal 2013, it expects earnings to be between 10% to 15% and also expects long-term goal of 10% to 15% earnings growth and the Company is positive about that longer-term. The Company reported EPS of $3.06 in fiscal 2013. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $3.21 for fiscal 2013; EPS of $3.58 for fiscal 2014 and EPS of $3.99 for fiscal 2015. Full Article
Ball Corp Completes Offering Of Senior Notes Due 2023
Ball Corp announced that it has closed its previously announced offering of $1 billion aggregate principal amount of 4% Senior Notes due 2023. Ball intends to use the net proceeds from the offering to pay the consideration, accrued and unpaid interest and related fees and expenses in connection with its previously announced tender offer and related consent solicitation for any and all of its outstanding 7.125% Senior Notes due 2016, to repay borrowings under its revolving credit facilities and Term A loan facility, and for general corporate purposes. Full Article
Ball Corp Prices $1 Billion Of Notes
Ball Corp announced that it priced an underwritten public offering of $1 billion of 4% Senior Notes due 2023. The offering is expected to close on May 16, 2013, subject to market conditions and other factors. Ball intends to use the net proceeds from the offering to pay the consideration, accrued and unpaid interest and related fees and expenses in connection with previously announced tender offer and related consent solicitation for any and all of its outstanding 7.125% Senior Notes due 2016, to repay borrowings under its revolving credit facilities, and for general corporate purposes. Deutsche Bank Securities; BofA Merrill Lynch; Goldman, Sachs & Co.; Barclays; Wells Fargo Securities; RBS Securities Inc.; KeyBanc Capital Markets; and J.P. Morgan are acting as joint book-running managers of the offering. Full Article
Ball Corp Announces Public Offering of Senior Notes
Ball Corp announced that it has commenced a public offering of approximately $600 million in aggregate principal amount of Senior Notes due 2023. The exact terms and timing of the offering will depend upon market conditions and other factors. Ball intends to use the net proceeds from the offering to pay the consideration, accrued and unpaid interest and related fees and expenses in connection with previously announced tender offer and related consent solicitation for any and all of its outstanding 7.125% Senior Notes due 2016, to repay borrowings under its revolving credit facilities, and for general corporate purposes. Deutsche Bank Securities; BofA Merrill Lynch; Goldman, Sachs & Co.; Barclays; Wells Fargo Securities; RBS Securities Inc.; KeyBanc Capital Markets; and J.P. Morgan are acting as joint book-running managers of the offering. Full Article
Ball Corp Declares Quarterly Dividend; Announces Management Changes
Ball Corp announced that it has declared a cash dividend of 13 cents per share, payable June 17, 2013, to shareholders of record as of June 3, 2013. Board Of Directors elected John A. Hayes, the Company's President And Chief Executive Officer, as chairman of the board. R. David Hoover, who had been chairman since 2002, will remain on the board as a director. Additionally, the board elected Michael W. Feldser, Gerrit Heske and Robert D. Strain as new corporate officers, appointed Theodore M. Solso as the corporation's lead independent director and announced Erik H. van der Kaay's retirement from the board. Full Article
Ball Corp Receives U.S. Air Force Risk Reduction Contract
Ball Corp announced that it has been selected by the U.S. Air Force to perform risk reduction work on the next generation of microwave sounding and imaging instruments for the Weather Satellite Follow-on program. Under a contract awarded by the Space and Missile Systems Center, El Segundo, California, Ball Aerospace will investigate how to achieve Department of Defense requirements for measuring soil moisture and ocean surface vector winds with a microwave instrument designed to fit into smaller, lower-cost launch vehicles. Full Article
Ball Corp Increases Quarterly Cash Dividend
Ball Corp announced that the board of directors increased the Company's quarterly cash dividend by 30%, to 13 cents per share. The cash dividend of 13 cents per share is payable March 15, 2013, to shareholders of record on March 1, 2013. Full Article
Ball Corp Completes Acquisition of Envases del Plata S.A. de C.V
Ball Corp announced that it completed its acquisition of Envases del Plata S.A. de C.V., producer of aluminum aerosol packaging with a manufacturing plant in San Luis Potosi, Mexico.The San Luis Potosi plant produces extruded aluminum aerosol cans for personal care and household products to customers in North, Central and South America. It employs approximately 150 people. The plant is part of Ball's metal food and household products packaging division, Americas, and complements Ball's global extruded aluminum aerosol and slug business in Europe, and its aluminum slug business in North America that Ball acquired in 2010. Ball will continue to operate its aerosol manufacturing plants in San Luis and Buenos Aires, Argentina, as part of the company's metal food and household products packaging division. Full Article
Ball Corporation Reaffirms Long Term EPS Guidance-Conference Call
Ball Corporation reaffirmed long term guidance and continues to believe it can generate earnings per share (EPS) growth of 10% to 15%. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $3.06 for fiscal 2012; EPS of $3.33 for fiscal 2013; EPS of $3.71 for fiscal 2014. Full Article
TEXT-Fitch affirms Ball Corp's ratings at 'BB+'
Feb 21 - Fitch Ratings has affirmed the Issuer Default Rating (IDR) and long-term debt ratings of Ball Corporation. The Rating Outlook is Stable. KEY RATING DRIVERS The rating affirmation incorporates the company's solid cash flow generation, stable credit metrics, leading market positions in the majority of its product categories/market segments, and current expectations for increased global beverage volume in the packaging end-markets. During the past several years, Ball has reduced overcapa
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