Berry Global Upsizes Offering to Fund Glatfelter Merger

Berry Global Group ( (BERY) ) has shared an announcement.

Berry Global Group has upsized its private offering to $800 million in senior secured notes, in connection with its subsidiary’s merger with Glatfelter. The increased offering, originally $500 million, will fund various aspects of the merger including a cash distribution and repayment of Glatfelter’s debt. The notes, due 2031, will be assumed by the newly formed Magnera Corporation post-merger, offering investors a significant interest rate of 7.250%. This strategic financial move is targeted at qualified institutional buyers and is exempt from registration, signaling a robust step in the merger process and reflecting confidence in the future prospects of the combined entity.

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