Sealed Air Announces Closing of Offering of Senior Notes
November 24 2014 - 4:30PM
Business Wire
Sealed Air Corporation (“Sealed Air” or the “Company”)
(NYSE:SEE) today announced the closing of the previously announced
offering of $425 million aggregate principal amount of 4.875%
senior notes due 2022 (the “2022 Notes”) and $425 million aggregate
principal amount of 5.125% senior notes due 2024 (together with the
2022 Notes, the “Notes”). The Notes were sold to investors at
100.0% of their aggregate principal amount.
The Company is using the net proceeds from the offering of the
Notes to repurchase all of its outstanding 8.125% senior notes due
2019 pursuant to the tender offer that the Company launched on
November 7, 2014, to pay consent fees in connection with the
consent solicitation that the Company launched on November 7, 2014
to proposed amendments to the indenture that governs its 8.375%
senior notes due 2021, to pay related premiums, fees and expenses
and for general corporate purposes.
The Notes and related guarantees have been offered only to
qualified institutional buyers under Rule 144A of the Securities
Act of 1933, as amended (the “Securities Act”), and to non-U.S.
persons in transactions outside the United States under Regulation
S of the Securities Act. The Notes have not been registered under
the Securities Act, and, unless so registered, may not be offered
or sold in the United States absent registration or an applicable
exemption form, or in a transaction not subject to, the
registration requirements of the Securities Act and other
applicable securities laws.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities nor has there been
any sale of these securities in any state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or other jurisdiction.
Business
Sealed Air creates a world that feels, tastes and works better.
In 2013, Sealed Air generated revenue of approximately $7.7 billion
by helping our customers achieve their sustainability goals in the
face of today’s biggest social and environmental challenges. Our
portfolio of widely recognized brands, including Cryovac® brand
food packaging solutions, Bubble Wrap® brand cushioning and
Diversey® cleaning and hygiene solutions, ensures a safer and less
wasteful food supply chain, protects valuable goods shipped around
the world and improves health through clean environments. Sealed
Air has approximately 25,000 employees who serve customers in 175
countries. To learn more, visit www.sealedair.com. Information on
Sealed Air’s website is not incorporated into, and does not form a
part of, this press release.
Website Information
We routinely post important information for investors on our
website, www.sealedair.com, in the “Investor Relations”
section. We use this website as a means of disclosing material,
non-public information and for complying with our disclosure
obligations under SEC Regulation FD. Accordingly, investors should
monitor the Investor Relations section of our website, in addition
to following our press releases, SEC filings, public
conference calls, presentations and webcasts. The information
contained on, or that may be accessed through, our website is not
incorporated by reference into, and is not a part of, this
document.
Forward-Looking
Statements
Statements in this press release may be “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995 concerning our business, consolidated financial
condition and results of operations. These statements include
comments as to future events that may affect Sealed Air, which are
based upon management’s current expectations and are subject to
uncertainties, many of which are outside Sealed Air’s control.
Forward-looking statements can be identified by such words as
“anticipates,” “expects,” “believes,” “plan,” “could,” “estimate,”
“will” and similar expressions. A variety of factors may cause
actual results to differ materially from these expectations,
including economic conditions affecting packaging utilization,
changes in raw material costs, currency translation effects, and
legal proceedings. For more extensive information, see “Risk
Factors” and “Cautionary Notice Regarding Forward-Looking
Statements,” which appear in our most recent Annual Report on Form
10-K, as may be revised and updated from time to time by our
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as
filed with the Securities and Exchange Commission. These reports
are available on the Securities and Exchange Commission’s website
at www.sec.gov or our Investor Relations home page at
http://ir.sealedair.com. Information on Sealed Air’s website is not
incorporated into, and does not form a part of, this press release.
Sealed Air does not undertake any obligation to publicly update any
forward-looking statement to reflect events or circumstances after
the date on which any such statement is made or to reflect the
occurrence of unanticipated events.
Sealed Air CorporationInvestor:Lori Chaitman,
201-703-4161orMedia:Ken Aurichio, 201-703-4164
Sealed Air (NYSE:SEE)
Historical Stock Chart
From Aug 2024 to Sep 2024
Sealed Air (NYSE:SEE)
Historical Stock Chart
From Sep 2023 to Sep 2024