PHILADELPHIA, Jan. 16, 2018 /PRNewswire/ -- Crown Holdings,
Inc. (NYSE: CCK) announced today that it intends to offer aggregate
principal amounts of senior unsecured notes of €600 million due
2023 and €335 million due 2026 issued by its subsidiary Crown
European Holdings, and $750 million
due 2026 issued by its subsidiaries Crown Americas LLC and Crown
Americas Capital Corp. VI, subject to market conditions.
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 contemplated size of the note
offerings, possible completion of the note offerings, the interest
rates, maturity dates and other terms of any notes that may be
issued, the prospective impact of the note offerings, and plans to
repay certain indebtedness 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 to differ include,
without limitation, that the note offerings are subject to a number
of conditions and approvals and the final terms may vary
substantially as a result of market and other conditions. 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. Crown does not
intend to review or revise any particular forward-looking statement
in light of future events. Dechert LLP is counsel to Crown
Holdings, Inc.
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.
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SOURCE Crown Holdings, Inc.