Berry Global (BERY) Prices Senior Notes in Private Offering

Core Viewpoint - Berry Global Group, Inc. is issuing $800 million in senior secured notes due 2031, with the proceeds aimed at repurchasing existing debt and general corporate purposes [1][3]. Group 1: Financial Details - The senior notes will have an interest rate of 5.800%, with semi-annual payments starting on December 15, 2024, and maturing on June 15, 2031 [2]. - The company’s current and long-term debt stood at $8.71 billion as of the end of the second quarter of fiscal 2024 [4]. Group 2: Market Performance - Berry Global's shares decreased by 0.3% to $59.70, while the company has a market capitalization of $6.8 billion and holds a Zacks Rank of 3 (Hold) [1][5]. - Over the past three months, Berry Global's shares have increased by 1.1%, compared to an industry growth of 8.6% [6]. Group 3: Earnings Outlook - The Zacks Consensus Estimate for Berry Global's fiscal 2024 earnings has decreased by 0.3% to $7.42 over the past 60 days [6]. - The company is expected to benefit from strategic investments in high-growth markets such as food service and pharmaceuticals, despite facing challenges in its Consumer Packaging International segment [5].