Plastic and metal packaging company, Ball, has raised $500 million in a debt issue, The Wall Street Journal reports. It will use the proceeds of the 10-year note sale to retire its outstanding 6.875% senior notes due in 2012.

The joint bookrunning managers of the deal are Deutsche Bank Securities, Bank of America Merrill Lynch, JP Morgan, Goldman Sachs and Barclays Capital. The size of the deal was initially planned at $450 million.

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