Sealed Air Announces Completion of Tender Offer for 8.125% Senior Notes Due 2019
December 09 2014 - 7:30AM
Business Wire
Sealed Air Corporation (“Sealed Air” or the “Company”)
(NYSE:SEE) today announced that the final tender period for the
previously announced offer to purchase its outstanding 8.125%
Senior Notes due 2019 (the “2019 Notes”), expired at 11:59 p.m.,
New York City time, on December 8, 2014 (the “Expiration
Time”).
At the Expiration Time, $602,855,000 principal amount of 2019
Notes, or 80.4% of the aggregate principal amount outstanding, had
been validly tendered and not withdrawn. As part of the previously
announced early tender, the Company purchased for cash, on November
24, 2014, $602,559,000 of the tendered 2019 Notes. The
complete terms and conditions of the tender offer were set forth in
an Offer to Purchase and Consent Solicitation Statement that was
sent to holders of the 2019 Notes.
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
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