PHILADELPHIA, Sept. 6, 2016 /PRNewswire/ -- Crown
Holdings, Inc. (NYSE: CCK) announced today that it intends to offer
€310 million in aggregate principal amount of senior unsecured
notes due 2024 issued by Crown European Holdings S.A., a subsidiary
of Crown, and $350 million in
aggregate principal amount of senior unsecured notes due 2026
issued by Crown Americas LLC and Crown Americas Capital Corp. V,
subsidiaries of Crown, subject to market conditions. Both
sets of notes would be unconditionally guaranteed by Crown and
certain of its subsidiaries.
Crown intends to use the net proceeds of the offerings, together
with other available funds, to repay a portion of its term loan
facility, to pay fees and expenses associated with the offerings of
the notes 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 under 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, plans to
repay certain indebtedness and the potential use of proceeds of the
note offerings in excess of €310 million and/or $350 million in aggregate principal amount for
other general corporate purposes, 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, 2015 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.
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.
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SOURCE Dechert LLP; Crown Holdings, Inc.