New Issue-Sealed Air Corp. sells $1.5 bln notes in 2 parts

Fri Sep 16, 2011 5:55pm EDT

  Sept 16 (Reuters) - Sealed Air Corporation (SEE.N) on
Friday sold $1.5 billion of two-part senior unsecured notes in
the 144a private placement market, said IFR, a Thomson Reuters
service.
 Citigroup, Bank of America, Morgan Stanley, RBS, BNP
Paribas, and Credit Agricole were the joint bookrunning
managers for the sale.
BORROWER: SEALED AIR CORPORATION
TRANCHE 1
AMT $750 MLN      COUPON 8.125 PCT    MATURITY 9/15/2019 
TYPE SR NTS       ISS PRICE 100       FIRST PAY 3/15/2012
MOODY'S B1        YIELD 8.125 PCT     SETTLEMENT 10/3/2011
S&P DOUBLE-B      SPREAD 605 BPS      PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS    MAKE-WHOLE CALL 50 BPS
TRANCHE 2
AMT $750 MLN      COUPON 8.375 PCT    MATURITY 9/15/2021 
TYPE SR NTS       ISS PRICE 100       FIRST PAY 3/15/2012
MOODY'S B1        YIELD 8.375 PCT     SETTLEMENT 10/3/2011
S&P DOUBLE-B      SPREAD 630 BPS      PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS    MAKE-WHOLE CALL 50 BPS


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