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May 27, 2015 8:48 AM ET

Containers and Packaging

Company Overview of Berry Plastics Corporation

Company Overview

Berry Plastics Corporation manufactures and markets plastic packaging products, plastic film products, specialty adhesives, and coated products. The company offers containers; foodservice items, including drink cups, and institutional catering and cutlery products; and home and party products, such as plates, bowls, pitchers, tumblers, and outdoor flowerpots, as well as plastic garden products. It also provides closures and over caps, bottles and prescription containers, and tubes. In addition, the company offers agricultural films, institutional can liners, stretch films, shrink films, barrier and sealant films, engineered films, personal care films, printed products, and polyvinyl chloride...

101 Oakley Street

Evansville, IN 47710

United States

Founded in 1967

16,000 Employees

Phone:

812-424-2904

Fax:

812-424-0128

Key Executives for Berry Plastics Corporation

Chairman, Chief Executive Officer, Member of Executive Committee, Chairman of Berry Plastics Group Inc and Chief Executive Officer of Berry Plastics Group Inc
Age: 58
President, Chief Operating Officer and President of Berry Plastics Group Inc
Age: 58
President of Engineered Materials Division
Age: 51
President of Rigid Closed Top Division
Age: 48
Vice President of Communications
Compensation as of Fiscal Year 2014.

Berry Plastics Corporation Key Developments

Berry Plastics Corporation Announces Tender Offer and Consent Solicitation for Any and All Outstanding 9.75% Second Priority Senior Secured Notes Due 2021

Berry Plastics Group Inc. announced the launch on May 21, 2015, by Berry Plastics Corporation, Berry Group’s wholly owned subsidiary of a cash tender offer and consent solicitation with respect to any and all of the Issuer’s outstanding 9.75% Second Priority Senior Secured Notes due 2021 issued under an indenture dated as of November 19, 2010. Each holder who validly tenders its Notes and delivers consents to the Proposed Amendments prior to 5:00 p.m., New York City time, on June 4, 2015, unless such time is extended by the Issuer, will receive, if such Notes are accepted for purchase pursuant to the tender offer, the total consideration of $1,102.50, which includes $1,072.50 as the tender offer consideration and $30.00 as a consent payment. In addition, accrued interest up to, but not including, the applicable payment date of the Notes will be paid in cash on all validly tendered and accepted Notes. The tender offer is scheduled to expire at midnight, New York City time, on June 18, 2015, unless extended (the “Expiration Date”). Tendered Notes may be withdrawn and consents may be revoked at any time prior to the Consent Date but not thereafter, subject to limited exceptions. Holders who validly tender their Notes and deliver their consents after the Consent Date will receive only the tender offer consideration and will not be entitled to receive a consent payment if such Notes are accepted for purchase pursuant to the tender offer. The Issuer reserves the right, at any time or times following the Consent Date but prior to the Expiration Date, to accept for purchase all the Notes validly tendered prior to the Early Acceptance Time. If the Issuer elects to exercise this option, it will pay the total consideration for the Notes accepted for purchase at the Early Acceptance Time on such date or dates promptly following the Early Acceptance Time. Also on the Early Payment Date, the Issuer will pay accrued and unpaid interest up to, but not including, the Early Payment Date on the Notes accepted for purchase at the Early Acceptance Time. The Issuer currently expects that the Early Payment Date will be June 5, 2015. Subject to the terms and conditions of the tender offer and the consent solicitation, the Issuer will, at such time or times after the Expiration Date, accept for purchase all the Notes validly tendered prior to the Expiration Date. The Issuer will pay the total consideration or tender offer consideration for the Notes accepted for purchase at the Final Acceptance Time on such date or dates promptly following the Final Acceptance Time. Also on the Final Payment Date, the Issuer will pay accrued and unpaid interest up to, but not including, the Final Payment Date on the Notes accepted for purchase at the Final Acceptance Time. The Issuer currently expects that the Final Payment Date will be June 19, 2015.

Berry Plastics Group, Inc. and Berry Plastics Corporation Enter into an Amendment to Amended and Restated Revolving Credit Agreement

On May 14, 2015, Berry Plastics Group, Inc., its wholly owned subsidiary, Berry Plastics Corporation and certain of its subsidiaries entered into an amendment no. 4 to the amended and restated revolving credit agreement (amendment no. 4), which amended the existing amended and restated revolving credit amendment, dated as of April 3, 2007, with Bank of America, N.A. and certain other financial institutions, relating to BPC’s existing $650 million secured, revolving credit facility (the revolving facility). Among other things, amendment no. 4 amended the existing credit agreement to extend the maturity date of the revolving facility to May 14, 2020 (subject to certain conditions) and to reduce interest margins and certain commitment fees. Under the terms of the amended revolving credit agreement, the applicable interest rate margin on borrowings bearing interest at a prime-rate based rate is 0.50% until August 14, 2015, and ranges from 0.25% to 0.75% on and after such date. The applicable interest rate margin on borrowings bearing interest at a reserve-adjusted LIBOR-based rate is 1.50% until August 14, 2015, and ranges from 1.25% to 1.75% on or after such date. Adjustments in the applicable margins on and after August 14, 2015, are determined based on the quarterly average daily borrowing availability under the revolving facility. Commitment fees on the revolving facility from and after May 14, 2015, range from 0.25% to 0.325%, depending upon the quarterly average daily unused availability under the revolving facility.

c. Berry Plastics Corporation Presents at JPMorgan Global High Yield & Leveraged Finance Conference, Feb-24-2015 11:40 AM

c. Berry Plastics Corporation Presents at JPMorgan Global High Yield & Leveraged Finance Conference, Feb-24-2015 11:40 AM. Venue: Loews Hotel, Miami Beach, Florida, United States.

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