Berry Plastics Corporation Announces Plans for Incremental Term Loan

  Berry Plastics Corporation Announces Plans for Incremental Term Loan

Business Wire

EVANSVILLE, Ind. -- February 1, 2013

Berry Plastics Group, Inc. (NYSE: BERY) announced today that its subsidiary,
Berry Plastics Corporation (“Berry”), has determined that it intends to obtain
commitments for $1.4 billion of first lien senior secured term loans (rather
than $1.0 billion, as previously announced), to be structured as an
incremental facility under Berry’s existing term loan credit agreement (such
loans, the “New Loans”). Berry intends to use the net proceeds from the
borrowing of the New Loans to redeem all of its outstanding 8 ¼% First
Priority Senior Secured Notes due 2015, Second Priority Senior Secured
Floating Rate Notes due 2014, First Priority Senior Secured Floating Rate
Notes due 2015 and 10¼% Senior Subordinated Notes due 2016 (the “Redemption”).
Berry is in discussion with lenders regarding the New Loans; however, there
can be no assurance that Berry will obtain the commitments in the time frame
or on the terms it expects, or at all or that the Redemption will occur. The
Redemption will be made, if at all, pursuant to the redemption terms and
notice provisions of the applicable indentures.

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 $4.8 billion in fiscal
2012. 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

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 Company 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’ SEC filings. The Company does 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


Berry Plastics Corporation
Media Contact:
Eva Schmitz, 812-306-2424
Investor Contact:
Dustin Stilwell, 812-306-2964
Press spacebar to pause and continue. Press esc to stop.