DOW JONES NEWSWIRES 
 

Ball Corp. (BLL) plans to offer about $650 million in seven-year and 10-year senior notes to fund and the planned $577 million acquisition of beverage-can plants from Anheuser-Busch InBev NV (ABI.BT).

The plastic and metal packaging company is just the latest to tap credit markets in recent months amid a resurgence in investors' interest.

Ball said if the acquisition is not completed, the company plans to use the proceeds for general corporate purposes, such as possible acquisitions, capital spending, share repurchases and repayment of debt.

Ball, like other packaging companies, has cut costs, shut plants and trimmed inventory amid weakened demand. In May, however, Moody's Investors Service said effective cost management had led the U.S. packaging industry to see a rebound in volume. In reporting second-quarter earnings last month, Chairman and Chief Executive David Hoover said he expected Ball's 2009 earnings to top last year's and expected "continued improvement" for the rest of this year.

Shares recently were down 46 cents at $46.82 amid a broad market downturn.

-By Tess Stynes, Dow Jones Newswires; 212-416-2481; tess.stynes@dowjones.com