OREANDA-NEWS. On 19 February 2015, the boards of Ball Corporation (“Ball”) and Rexam PLC (“Rexam”) announced the terms of a recommended cash and share offer (the "Offer") by Ball UK Acquisition Limited (“Bidco”), a wholly-owned subsidiary of Ball, for the entire issued and to be issued share capital of Rexam (the “Offer Announcement”).

Ball today announced it has completed the closing of its new revolving and term loan senior secured credit facilities that refinance Ball’s revolver and the remainder of the bridge term loan facilities entered into on 19 February 2015.

The new $4.1 billion senior secured credit facilities include a multicurrency revolving facility, and U.S. dollar and Euro term loan facilities that will mature in 2021. The new term loan facilities, together with the bonds issued in December 2015, represent the final portion of permanent financing related to Ball’s proposed offer for Rexam.

“These new credit facilities represent attractive financing from a diverse bank syndicate, as well as the flexibility to execute future corporate actions,” said Scott C. Morrison, senior vice president and chief financial officer. “Our solid balance sheet and recent financings provide us with a very competitive, long-term capital structure to generate value for our shareholders in 2016 and beyond.”

Ball supplies innovative, sustainable packaging solutions for beverage, food and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government. Ball and its subsidiaries employ 15,000 people worldwide and reported 2015 sales of $8.0 billion.