Form 8-K Swap
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
Current
Report
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported): August 24,
2007
BERRY
PLASTICS HOLDING CORPORATION
(Exact
name of Registrant as specified in its charter)
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BERRY
PLASTICS
CORPORATION
(Exact
name of Registrant as specified in its charter)
|
Delaware
(State
of Incorporation)
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Delaware
(State
of Incorporation)
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033-75706
(Commission
File Numbers)
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35-1814673
(I.R.S.
Employer Identification No.)
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35-1813706
(I.R.S.
Employer Identification No.)
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101
Oakley Street
Evansville,
Indiana
(Address
of principal executive offices)
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47710
(Zip
Code)
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(812)
424-2904
(Registrant’s
telephone number, including area code)
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N.A.
(Former
Name or Former Address, if Changed Since Last Report)
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N.A.
(Former
Name or Former Address, if Changed Since Last
Report)
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Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[
]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[
]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[
]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act
(17 CFR 240.14d-2(b))
[
]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act
(17 CFR 240.13e-4(c))
Item
2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
On
August
24, 2007, Berry Plastics Holding Corporation (“the Company”),
entered into a two-year interest rate swap agreement and a three-year interest
rate swap agreement, with a combined total notional amount of $600 million,
in
order to hedge the interest rate variability of the Company’s debt.
Under
the
two-year interest rate swap agreement, which has a notional amount of $300
million, the Company has agreed to pay a fixed interest rate of 4.875%,
beginning on November 5, 2007 through November 5, 2009, in exchange for
receiving floating payments based on three-month LIBOR on the same $300 million
notional amount for the same two-year period.
Under
the
three-year interest rate swap agreement, with a notional amount of $300 million,
the Company has agreed to pay a fixed interest rate of 4.920%, beginning on
November 5, 2007 through November 5, 2010, in exchange for receiving floating
payments based on three-month LIBOR on the same $300 million notional amount
for
the same three-year period.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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BERRY
PLASTICS HOLDING CORPORATION
BERRY
PLASTICS CORPORATION
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Date:
August
29, 2007
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By:
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\s\
James M. Kratochvil
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Name:
James M. Kratochvil
Title:
Executive Vice President, Chief
Financial
Officer, Treasurer and Secretary
of
the entities listed above
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