8-KMaterial AgreementsFinancial EventsExhibits & Filings

Amcor plc 8-K Report, Material Agreement (Jul 26, 2019)

Filed July 26, 2019For Securities:AMCRAMCCF

Summary

This 8-K filing from Amcor plc (AMCR) dated July 26, 2019, primarily concerns a material definitive agreement related to its Euro Medium Term Note Programme. Specifically, Amcor plc and Bemis Company, Inc. have executed a Second Supplemental Trust Deed. This deed ensures that both Amcor plc and Bemis irrevocably and unconditionally guarantee previously issued and outstanding €300,000,000 in aggregate principal amount of 2.75% Notes due 2023 under Amcor's existing Euro Medium Term Note Programme. For investors, this filing signifies the formal assumption of guarantee obligations by Amcor plc and Bemis concerning these specific notes. This action is a crucial step, likely related to the ongoing integration or completion of Amcor's acquisition of Bemis. The guarantee provides additional credit support for the noteholders, potentially enhancing the security and perceived creditworthiness of these particular debt instruments.

Key Highlights

  • 1Amcor plc and Bemis Company, Inc. have entered into a material definitive agreement via a Second Supplemental Trust Deed.
  • 2This agreement involves Amcor plc and Bemis providing irrevocable and unconditional guarantees for specific notes.
  • 3The guaranteed debt consists of €300,000,000 in aggregate principal amount of 2.75% Notes due 2023.
  • 4These notes were previously issued under Amcor's Euro Medium Term Note Programme.
  • 5The filing incorporates information about the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement.
  • 6The Second Supplemental Trust Deed is filed as an exhibit to this report.

Frequently Asked Questions

The Second Supplemental Trust Deed formalizes the guarantee obligations of Amcor plc and Bemis Company, Inc. for Amcor's existing €300,000,000 in 2.75% Notes due 2023. This means both Amcor plc and Bemis are now jointly and severally responsible for repaying these notes.

This filing specifically addresses the guarantee for a particular series of notes. It doesn't alter the terms of the notes themselves but strengthens the credit backing for those notes by adding Amcor plc and Bemis as guarantors.

While not explicitly stated as the sole reason, the involvement of both Amcor plc and Bemis as guarantors strongly suggests this action is a consequence of or related to Amcor's acquisition of Bemis, ensuring continuity and security for existing debt obligations.

For investors holding these specific notes, it means they now have recourse to the assets and creditworthiness of both Amcor plc (the parent entity) and Bemis Company, Inc. This enhances the security of their investment in these notes.