Berry Global Subsidiary Plans $500 Million Debt Issue to Fund Merger With Glatfelter

MT Newswires Live

2024/10/07

Berry Global Group (BERY) and Glatfelter (GLT) said Monday that Berry's indirect, wholly owned subsidiary Treasure Escrow plans to issue $500 million in senior secured notes due 2031.

The company plans to use proceeds of the offering in part to fund, through subsidiaries, the combination of Berry's health, hygiene, specialties global nonwovens and films business with Glatfelter as well as pay Glatfelter's debts.

Upon closing, the combined company will be renamed Magnera, the companies said.

Price: 66.58, Change: -0.02, Percent Change: -0.03

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