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Berry Plastics Announces Completion Of Tender Offer For Its Outstanding 9½ Percent Second Priority Senior Secured Notes Due 2018

Stocks in this article: BERY

Berry Plastics Group, Inc. (NYSE: BERY; “Berry Group”) announced today that Berry Plastics Corporation (the “Issuer”), Berry Group’s wholly owned subsidiary, has completed its tender offer (the "Tender Offer") to purchase any and all of its outstanding 9½ percent Second Priority Senior Secured Notes due 2018 issued under an indenture dated as of April 30, 2010 (the "Notes").

The Tender Offer expired at midnight, New York City time, on May 23, 2014 (the "Expiration Date"). No additional Notes were tendered after the expiration of the consent payment deadline on May 9, 2014, at 5:00 p.m., New York City time (the "Consent Date") and before the Expiration Date. As previously announced, the Issuer received tenders from holders of $419,741,000 aggregate principal amount of Notes, representing 83.95 percent of the outstanding Notes. On May 12, 2014, the Issuer accepted for early payment the Notes tendered prior to the Consent Date.

As previously announced, the Issuer intends to redeem the Notes that remain outstanding after completion of the Tender Offer in accordance with the terms of the indenture governing the Notes. On May 12, 2014, the Issuer provided notice to the trustee under the indenture of such redemption and irrevocably deposited cash with the trustee in respect of the Notes in an amount sufficient to redeem the outstanding Notes. Credit Suisse Securities (USA) LLC acted as sole dealer manager and solicitation agent in connection with the Tender Offer.

About Berry Plastics

Berry Plastics Group, Inc. is a leading provider of value-added plastic consumer packaging and engineered materials delivering high-quality customized solutions to our customers with annual net sales of over $4.6 billion in fiscal 2013. With world headquarters in Evansville, Indiana, the Company’s common stock is listed on the New York Stock Exchange under the ticker symbol BERY. For additional information, visit the Company’s website at www.berryplastics.com.

Forward-looking statements

Certain statements and information included in this release may constitute “forward looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the companies to be materially different from any future results, performance, or achievements expressed or implied in such forward looking statements. Additional discussion of factors that could cause actual results to differ materially from management’s projections, forecasts, estimates and expectations is contained in the companies’ Securities and Exchange Commission filings. The companies do not undertake any obligation to update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

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