Item 2.04 - Triggering Events That Accelerate or Increase a Direct Financial
Obligation or an Obligation under an Off-Balance Sheet Arrangement.
On January 15, 2021, Pactiv Evergreen Inc. (the "Company") issued
a notice of redemption to The Bank of New York Mellon, as trustee, to redeem all
of its approximately $59 million outstanding aggregate principal amount of
5.125% senior secured notes due 2023 (the "Notes"), which are governed by that
certain indenture dated as of June 27, 2016, among Pactiv Evergreen Group Issuer
Inc., Pactiv Evergreen Group Issuer LLC, The Bank of New York Mellon, as
trustee, principal paying agent, transfer agent, collateral agent, registrar and
calculation agent and Wilmington Trust (London) Limited, as additional
collateral agent, as amended or supplemented from time to time (the
"Indenture"). The redemption date will be February 14, 2021 (the "Redemption
Date"), with the redemption payment occurring on February 16, 2021. The
redemption price for the Notes will be calculated in accordance with the
Indenture and will be equal to 101.281% of the principal amount thereof plus
accrued but unpaid interest to, but not including, the Redemption Date. The
applicable notice of redemption will be sent to the registered holders of the
Notes.
This Form 8-K shall not be considered to be a notice of redemption pursuant to
the Indenture.
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