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Crown Holdings Inc Announces Pricing Of Senior Notes


Thursday, 3 Jan 2013 05:27pm EST 

Crown Holdings Inc announced that it has priced a private placement of $800 million principal amount of 4.5% senior unsecured notes due 2023 (the New Notes). The New 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 (i) to redeem all of Crown Americas LLC's and Crown Americas Capital Corp. II's outstanding $400 million senior notes due 2017 (the 2017 Notes) and to pay redemption premiums associated therewith, (ii) to repay the equivalent of $300 million of indebtedness under the Company's senior secured term loan facilities, (iii) for general corporate purposes and (iv) for payment of related fees and expenses. 

Company Quote

47.55
0.29 +0.61%
4:00pm EDT