YARDLEY,
Pa., Aug. 8, 2022 /PRNewswire/ -- Crown
Holdings, Inc. (NYSE: CCK) announced today that it has amended the
credit agreement governing its senior secured credit facilities
(such amendment, the "Amendment"). The Amendment extends the
agreement's maturity to August 2027
and increases the commitments under several of the Company's
existing facilities. Following the Amendment, the Company's
commitments under its credit agreement will include $800 million in U.S. dollar-denominated revolving
commitments, $800 million in
multicurrency revolving commitments, $50
million in Canadian dollar-denominated revolving
commitments, $1.8 billion in Term
Loan A commitments, and €540 million in Term Euro commitments.
The Company expects to use proceeds from the senior secured
credit facilities in order to pay for the redemption of the
outstanding 2¼% Senior Notes due 2023 (with an
aggregate principal amount outstanding of €335 million) and the ¾%
Senior Notes due 2023 (with an aggregate principal amount
outstanding of €550 million) (collectively, the "Senior Notes"),
both of which were issued by Crown European Holdings S.A., a
wholly-owned subsidiary of the Company.
The above description of the Amendment is qualified in its
entirety by reference to the full text of the Amendment, which will
be filed as an exhibit to an upcoming Current Report on Form 8‑K
filing to be made by the Company.
Cautionary Note Regarding
Forward-Looking Statements
Except for historical information, all other information in this
press release consists of forward‑looking statements. These
forward-looking statements involve a number of risks, uncertainties
and other factors that may cause actual results to be materially
different from those expressed or implied in the forward-looking
statements. Important factors that could cause the statements made
in this press release or the actual results of operations or
financial condition of the Company to differ are discussed under
the caption "Forward-Looking Statements" in the Company's Form 10-K
Annual Report for the year ended December
31, 2021 and in subsequent filings made prior to or after
the date hereof. The Company does not intend to review or revise
any particular forward-looking statement in light of future
events.
About Crown Holdings,
Inc.
Crown Holdings, Inc., through its subsidiaries, is a leading
global supplier of rigid packaging products to consumer marketing
companies, as well as transit and protective packaging products,
equipment and services to a broad range of end markets. World
headquarters are located in Yardley,
Pennsylvania. For more information, visit
www.crowncork.com.
For more information, contact:
Kevin C. Clothier, Senior Vice
President and Chief Financial Officer, (215) 698-5281, or
Thomas T. Fischer, Vice President,
Investor Relations and Corporate Affairs, (215) 552-3720
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SOURCE Crown Holdings, Inc.