Ball secures new long-term credit facility
US can making company Ball Corporation has secured a new long-term borrowing facility worth $1.4 billion (€1bn).
The credit facility will extend bank maturities through 2015 and could fund further expansion in addition to stock repurchases.
“The new credit facility provides Ball with additional borrowing capacity and more flexibility,” says Scott 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 well into the future.”
The company will announce its fourth quarter and full year results on 27 January, 2011.