SEE Announces Pricing of Cash Tender Offer For Any and All 5.25% Senior Notes Due 2023
The Tender Offer has been made upon the terms subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement, dated
Certain information related to the 2023 Notes and the pricing of the Tender Offer is set forth in the table below, including the Total Consideration for the 2023 Notes.
Title of Notes |
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CUSIP/ISIN |
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Outstanding Principal Amount |
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UST Reference Security |
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Bloomberg Reference Page(1) |
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Fixed Spread (bps) |
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Early Tender Payment(2)(3) |
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Total Consideration(2)(4) |
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5.25% Senior Notes due |
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CUSIP: 81211K AU4 (144A) and U81193 AL5 (Reg S) ISIN: US81211KAU43 (144A) and USU81193AL54 (Reg S) |
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2.125% due
2022 |
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FIT3 |
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+50 |
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(1) The page on Bloomberg from which the Dealer Manager (as defined below) quoted the bid side price of the
(2) Per
(3) Included in the Total Consideration for Notes tendered and accepted for purchase on or prior to the Early Tender Deadline.
(4) Based upon a reference yield determined as of
The Tender Offer will expire at
In addition, holders of all 2023 Notes validly tendered and accepted for purchase pursuant to the Tender Offer will receive accrued and unpaid interest on such 2023 Notes from the last interest payment date with respect to such 2023 Notes to, but excluding, the applicable Settlement Date (as defined below).
The Total Consideration payable by
The settlement date for the 2023 Notes validly tendered and not validly withdrawn at or prior to the Early Tender Date and accepted for purchase is expected to be
Any 2023 Notes validly tendered after the Early Tender Deadline may not be withdrawn or revoked, except as required by law.
This press release is for informational purposes only and is not an offer to purchase or a solicitation of an offer to sell with respect to any 2023 Notes. No offer will be made, nor will
None of
About SEE
Our globally recognized brands include CRYOVAC® brand food packaging, SEALED AIR® brand protective packaging, AUTOBAG® brand automated systems, BUBBLE WRAP® brand packaging, and SEE™ Touchless Automation™ solutions.
SEE serves customers in 114 countries/territories.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 concerning our business, consolidated financial condition, results of operations or cash flows. Forward-looking statements are subject to risks and uncertainties, many of which are outside our control, which could cause actual results to differ materially from these statements. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements can be identified by such words as “anticipate,” “believe,” “plan,” “assume,” “could,” “should,” “estimate,” “expect,” “intend,” “potential,” “seek,” “predict,” “may,” “will” and similar references to future periods. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Examples of forward-looking statements include, among others, statements we make regarding expected future operating results, expectations regarding the results of restructuring and other programs, anticipated levels of capital expenditures and expectations of the effect on our financial condition of claims, litigation, environmental costs, contingent liabilities and governmental and regulatory investigations and proceedings.
The following are important factors that we believe could cause actual results to differ materially from those in our forward-looking statements: global economic and political conditions, currency translation and devaluation effects, changes in raw material pricing and availability, competitive conditions, the success of new product offerings, consumer preferences, the effects of animal and food-related health issues, the effects of epidemics or pandemics, including the Coronavirus Disease 2019 (COVID-19), negative impacts related to the ongoing conflict between
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Media
Christina.griffin@sealedair.com
704.430.5742
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