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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Amcor plc    AMC   AU000000AMC4

AMCOR PLC

(AMC)
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AMCOR PLC : Other Events, Financial Statements and Exhibits (form 8-K)

06/19/2020 | 05:08pm EST
Item 8.01 Other Events



On June 12, 2020, Amcor plc ("Amcor"), Bemis Company, Inc. ("Bemis"), Amcor Finance (USA), Inc. ("AFUI"), Amcor UK Finance plc ("Amcor UK") and Amcor Pty Ltd (together with Amcor, AFUI and Amcor UK, the "Guarantors") entered into an Underwriting Agreement (the "Underwriting Agreement") with J.P. Morgan Securities LLC, BofA Securities, Inc., Citigroup Global Markets Inc. and Wells Fargo Securities, LLC, as Representatives of the several Underwriters named therein, with respect to the offer and sale by Bemis of $500,000,000 aggregate principal amount of its 2.630% Senior Notes due 2030 (the "Notes"), under the Registration Statement on Form S-3 (Registration No. 333-239060). Each Guarantor will provide a full and unconditional guarantee of the Notes pursuant to the Indenture (as defined below) (the "Guarantee" and together with the Notes, the "Securities"). The Securities will be issued pursuant to an Indenture, dated as of June 19, 2020, among Bemis, the Guarantors, and Deutsche Bank Trust Company Americas, as trustee (the "Indenture").

The net proceeds from the sale of the Securities after deducting the underwriting discount and estimated offering expenses payable by us are expected to be approximately $496.2 million. Amcor intends to use the net proceeds from the sale of the Securities for general corporate purposes and for the part repayment of commercial paper and bank drawdowns.

The foregoing summary of the Underwriting Agreement and the Indenture does not purport to be complete and is qualified in its entirety by reference to the texts of the Underwriting Agreement and the Indenture. The Underwriting Agreement is filed as Exhibit 1.1 to this Current Report on Form 8-K and is incorporated herein by reference. The Indenture (including the Guarantees) is filed as Exhibit 4.1 to this Current Report on Form 8-K and is incorporated herein by reference. The form of notes for the Notes is filed as Exhibit 4.2 to this Current Report on Form 8-K and is incorporated by reference.

Item 9.01 Financial Statements and Exhibits




Exhibit No.                               Description
  1.1           Underwriting Agreement, dated as of June 12, 2020, by and among
              Bemis Company, Inc., Amcor plc, Amcor Finance (USA), Inc., Amcor UK
              Finance plc and Amcor Pty Ltd and J.P. Morgan Securities LLC, BofA
              Securities, Inc., Citigroup Global Markets Inc. and Wells Fargo
              Securities, LLC, as representatives of the several Underwriters
              named herein.
  4.1           Indenture, dated as of June 19, 2020, among Bemis Company, Inc.,
              Amcor plc, Amcor Finance (USA), Inc., Amcor UK Finance plc and Amcor
              Pty Ltd and Deutsche Bank Trust Company Americas, as trustee
              (including the guarantees).
  4.2           Form of 2.630% Senior Note due 2030.
  5.1           Opinion of Sidley Austin LLP.
  5.2           Opinion of Sidley Austin LLP (English law).
  5.3           Opinion of Armstrong Teasdale LLP.
  5.4           Opinion of Ogier (Jersey) LLP.
  5.5           Opinion of Gilbert + Tobin.
  23.1          Consent of Sidley Austin LLP (included in Exhibit 5.1 hereto).
  23.2          Consent of Sidley Austin LLP (English law) (included in Exhibit
              5.2 hereto).
  23.3          Consent of Armstrong Teasdale LLP (included in Exhibit 5.3
              hereto).
  23.4          Consent of Ogier (Jersey) LLP (included in Exhibit 5.4 hereto).
  23.5          Consent of Gilbert + Tobin (included in Exhibit 5.5 hereto).




                                       2

© Edgar Online, source Glimpses

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Sales 2021 12 606 M - -
Net income 2021 1 023 M - -
Net Debt 2021 5 319 M - -
P/E ratio 2021 17,6x
Yield 2021 4,25%
Capitalization 17 479 M 17 515 M -
EV / Sales 2021 1,81x
EV / Sales 2022 1,75x
Nbr of Employees 47 000
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 12,53 $
Last Close Price 11,23 $
Spread / Highest target 24,0%
Spread / Average Target 11,6%
Spread / Lowest Target -4,22%
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Managers and Directors
NameTitle
Ronald Stephen Delia Chief Executive Officer, Director & MD
Graeme Richard Liebelt Chairman
Michael John Casamento Chief Financial Officer & Executive VP-Finance
Armin Meyer Deputy Chairman
Karen Jane Guerra Independent Non-Executive Director