Amcor Sets $2.2B Senior Unsecured Notes Offering
ZURICH, Mar. 13, 2025 – Amcor plc (NYSE:AMCR; ASX:AMC) (“Amcor”) announced today that Amcor Flexibles North America, Inc. (“AFNA”), a wholly-owned subsidiary of Amcor, has priced a private offering (the “Offering”) of guaranteed senior notes in an aggregate principal amount of $2.2 billion (collectively, the “Notes”). The Notes consist of (i) US$725,000,000 principal amount of 4.800% Guaranteed Senior Notes due 2028, (ii) US$725,000,000 principal amount of 5.100% Guaranteed Senior Notes due 2030 and (iii) US$750,000,000 principal amount of 5.500% Guaranteed Senior Notes due 2035. The Offering is expected to close on March 17, 2025, subject to the satisfaction of customary closing conditions. The Notes will be senior unsecured obligations of AFNA and will be unconditionally guaranteed on a senior unsecured basis by Amcor and certain of its subsidiaries that guarantee existing registered notes issued by AFNA.
Amcor intends to use the net proceeds from the offering to repay certain existing indebtedness of Berry Global Group, Inc. (“Berry”) in connection with the closing of Amcor’s previously announced merger with Berry (the “Merger”). All of the Notes, other than the 4.800% Guaranteed Senior Notes due 2028, will be subject to a special mandatory redemption if the Merger is not consummated by five (5) business days after the “Outside Date” under the merger agreement.
The Notes and the guarantees have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state or any other jurisdiction. The Notes are being offered and sold in the United States only to persons reasonably believed to be qualified institutional buyers (as defined in Rule 144A, “QIBs”) in reliance on Rule 144A under the Securities Act (“Rule 144A”) and to certain non-U.S. persons, in transactions outside the United States, in reliance on Regulation S under the Securities Act (“Regulation S”). Prospective purchasers that are QIBs are hereby notified that the sellers of the Notes may be relying on the exemption from Section 5 of the Securities Act pursuant to Rule 144A. The Notes are subject to certain restrictions on transfer and may only be offered or sold in transactions exempt from, or not subject to, the registration requirements of the Securities Act and other applicable securities laws.
A confidential offering memorandum for the Offering of the Notes has been made available to such eligible persons. The Offering is being conducted in accordance with the terms and subject to the conditions set forth in such confidential offering memorandum.
This press release is for informational purpose only and does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, the Notes or any other security. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation or sale would be unlawful.
https://www.amcor.com/media/news/amcor-prices-private-offering-of-2-pt-2-billion-of-senior-unsecured-notes