March 21, 2010 (FinancialWire) — Ball Corp. (NYSE: BLL) plans to launch a public offering of around $450 million of senior notes due in 2020.

The company plans to use the net proceeds from the offering, together with borrowings under its revolving credit facility or accounts receivable securitization facility or cash on hand, to retire all of its currently outstanding 6.875 percent senior notes due in 2012.

Ball said the retirement of the 6.875 percent senior notes due in 2012 is expected to result in a one-time, after-tax charge of around $4.7 million relating to the payment of a call premium and write off of unamortized debt issuance costs.

Colorado-based Ball is a supplier of metal and plastic packaging for beverage, food and household products customers, and of aerospace and other technologies and services, primarily for the U.S. government.

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