PHILADELPHIA, Jan. 18, 2018 /PRNewswire/ -- Crown
Holdings, Inc. (NYSE: CCK) announced today that it has priced its
offerings of €500 million principal amount of 2.875% senior
unsecured notes due 2026 and €335 million principal amount of
2.250% senior unsecured notes due 2023 issued at par by its
subsidiary Crown European Holdings S.A., and its offering of
$875 million principal amount of
4.750% senior unsecured notes due 2026 issued at par by Crown
Americas LLC and Crown Americas Capital Corp. VI, each a subsidiary
of Crown.
All three sets of notes will be unconditionally guaranteed by
Crown and certain of its subsidiaries.
Crown intends to use the net proceeds from the offerings,
together with other available funds, to pay the cash consideration
for its acquisition of Signode Industrial Group Holdings
(Bermuda) Ltd., refinance the
existing indebtedness of Signode, and pay costs and expenses
related to these transactions.
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, the prospective impact of the note offerings, plans to
repay certain Signode indebtedness and the use of proceeds for the
Signode acquisition, and Crown's ability to close the Signode
acquisition, 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 offerings are subject to
a number of conditions and approvals. There can be no assurance
that the note offerings 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, 2016 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.
MiFID II professionals/ECPs-only/No PRIIPs KID
Manufacturer target market (MIFID II product governance) is
eligible counterparties and professional clients only (all
distribution channels). No PRIIPs key information document (KID)
has been prepared as not available to retail in EEA.
About Crown Holdings, Inc.
Headquartered in Philadelphia,
PA, Crown Holdings, Inc. is a leading manufacturer of
packaging products for consumer marketing companies around the
world. Crown makes a wide range of metal packaging for food,
beverage, household and personal care and industrial products and
metal vacuum closures and caps. For more information,
visit www.crowncork.com.
For more information, contact: Thomas T.
Fischer, Vice President, Investor Relations and Corporate
Affairs, (215) 552-3720.
View original
content:http://www.prnewswire.com/news-releases/crown-holdings-announces-pricing-of-senior-notes-300584823.html
SOURCE Crown Holdings, Inc.