TAMPA,
Fla., Nov. 30, 2023 /PRNewswire/ -- Crown
Holdings, Inc. (NYSE: CCK) announced today that it has priced an
offering of €500 million principal amount of 4.750% senior
unsecured notes due 2029 issued at par by its subsidiary Crown
European Holdings S.A.
The notes will be unconditionally guaranteed by Crown and
certain of its subsidiaries.
Crown intends to use the net proceeds from the offering to
partially pay down the outstanding Term Loan A Facility and Term
Euro Facility under Crown's credit agreement, and for general
corporate purposes.
The notes would be issued through a private placement and resold
by initial purchasers to persons reasonably believed to be
qualified institutional buyers under Rule 144A under the Securities
Act of 1933, as amended, and to non-U.S. persons outside
the United States under Regulation
S of the Securities Act. The notes would not be registered under
the Securities Act and could not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements. 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
Except for historical information, all other
information in this press release consists of forward-looking
statements within the meaning of the federal securities laws. These
forward-looking statements involve a number of risks, uncertainties
and other factors, including regarding the expected completion of
the note offering and the prospective impact of the note offering
and plans to partially repay certain indebtedness with the proceeds
from the offering, any of which may cause the actual results to be
materially different from those expressed or implied in the
forward-looking statements. Other important factors that could
cause the statements made in this press release or the actual
results of operations or financial condition of Crown to differ
include, without limitation, that the note offering is subject to a
number of conditions and approvals. There can be no assurance that
the note offering will be completed as described herein or at all.
Other important factors are discussed under the caption
"Forward-Looking Statements" in Crown's Form 10-K Annual Report for
the year ended December 31, 2022 and
in subsequent filings made prior to or after the date hereof.
Crown does not intend to review or revise any particular
forward-looking statement in light of future events.
No PRIIPs KID
Not for retail investors in the European
Economic Area ("EEA") or the United Kingdom. No PRIIPs key
information document (KID) has been prepared as not available to
retail investors in the EEA or the United Kingdom.
About Crown Holdings, Inc.
Crown Holdings, Inc.,
through its subsidiaries, is a leading global supplier of rigid
packaging products to consumer marketing companies, as well as
transit and protective packaging products, equipment and services
to a broad range of end markets. World headquarters are located in
Tampa, Florida. For more
information, visit www.crowncork.com.
For more information, contact:
Thomas T. Fischer, Vice President,
Investor Relations and Corporate Affairs, (215) 552-3720
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SOURCE Crown Holdings, Inc.