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Sonoco Prices Inaugural $1.2 Bln Green Bond Offering - Quick Facts

Packaging company Sonoco Products Co. (SON) announced Wednesday the successful pricing of its first green bonds to support the Company's sustainability strategy. The green bonds total $1.2 billion aggregate principal amount and consist of $400 million aggregate principal amount of 1.80% Senior Unsecured Notes due 2025, $300 million aggregate principal amount of 2.25% Senior Unsecured Notes due 2027 and $500 million aggregate principal amount of 2.85% Senior Unsecured Notes Due 2032.

The offering is expected to close on January 21, 2022, subject to customary closing conditions.

Sonoco intends to allocate an amount equal to the net proceeds from the offering, together with borrowings under an expected term loan facility and its commercial paper program, to fund the cash consideration payable by it in connection with its previously announced plans to acquire Ball Metalpack.

The acquisition of Ball Metalpack qualifies as an Eligible Project under Sonoco's recently introduced Green Financing Framework.

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