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Crown Holdings Announces Pricing Of Senior Notes
By: PR Newswire
Jan. 9, 2013 05:23 PM
PHILADELPHIA, Jan. 9, 2013 /PRNewswire/ -- Crown Holdings, Inc. (NYSE: CCK) announced today that it has priced a private placement of $200 million principal amount of 4.5% senior unsecured notes due 2023 (the "Notes"). The Notes were priced at 100% of the principal amount and will be issued by Crown Americas LLC and Crown Americas Capital Corp. IV, each a subsidiary of the Company, and will be unconditionally guaranteed by the Company and substantially all of its U.S. subsidiaries.
The Company intends to use the net proceeds of the offering, together with cash on hand, to repay $200 million of indebtedness outstanding under the Company's senior secured term loan facilities.
The Notes will be issued through a private placement and resold by initial purchasers to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended, or Regulation S. The Notes will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
This issuance of the Notes is an add-on to the Company's previously announced $800 million offering of 4.5% senior unsecured notes due 2023, which the Company completed on January 9, 2013. With the issuance of the Notes, the total aggregate principal amount of 4.5% senior unsecured notes due 2023 will be $1.0 billion.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security in any jurisdiction in which such offer or sale would be unlawful.
Cautionary Note Regarding Forward-Looking Statements
About Crown Holdings, Inc.
For more information, contact: Thomas A. Kelly, Senior Vice President - Finance, (215) 698-5341.
SOURCE Crown Holdings, Inc.
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