CROWN ANNOUNCES FINAL RESULTS AND EXPIRATION OF CASH TENDER OFFER FOR DEBT SECURITIES
Rhea-AI Summary
Crown (NYSE: CCK) reported final results and expiration of a cash tender offer by its subsidiary to purchase outstanding 7 3/8% Debentures due 2026. Of $350,000,000 aggregate principal outstanding, $317,295,000 were validly tendered and $339,000 were covered by guaranteed delivery.
The company expects to accept valid tenders and pay for accepted Debentures on November 21, 2025, including accrued and unpaid interest through, but not including, the Settlement Date. Dealer managers and the tender agent contacts are listed for holders.
Positive
- Debentures tendered: $317,295,000
- Tendered amount equals ~90.7% of $350,000,000 outstanding
- Company expects acceptance and payment on Nov 21, 2025
Negative
- Principal cash requirement of $317,295,000 on settlement
- Tender offer completion is subject to conditions and not guaranteed
News Market Reaction – CCK
On the day this news was published, CCK declined 0.48%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
According to the information provided by Global Bondholder Services Corp., the aggregate principal amount of the Debentures that were validly tendered and not validly withdrawn as of the Expiration Time is set forth in the table below.
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Title of Security |
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CUSIP (1) |
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Aggregate
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Aggregate |
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Guaranteed Delivery |
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7 3/ |
|
228255 AH8 |
|
$ |
350,000,000 |
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|
$ |
317,295,000 |
|
$ |
339,000 |
(1) No representation is made as to the correctness or accuracy of the CUSIP number listed in this news release or printed on the Debentures. It is provided solely for the convenience of Holders of the Debentures.
(2) As reported by Global Bondholder Services Corp., the Tender and Information Agent for the Tender Offer.
The Tender Offer was made pursuant to the terms and conditions contained in the Offer to Purchase and the related Notice of Guaranteed Delivery for the Tender Offer, dated November 12, 2025.
Subject to satisfaction of the conditions to the Tender Offer, the Company expects to accept for payment all Debentures validly tendered pursuant to the Tender Offer and not validly withdrawn on November 21, 2025 (the "Settlement Date"). All payments for Debentures purchased by the Company in connection with the Tender Offer will also include accrued and unpaid interest on the principal amount of Debentures accepted for purchase from the last interest payment date up to, but not including, the Settlement Date.
Mizuho Securities
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 tender offer, any of 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 or the actual results of operations or financial condition of Crown to differ include, without limitation, that the tender offer is subject to a number of conditions and approvals. There can be no assurance that the tender offer 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, 2024 and in subsequent filings made prior to or after the date hereof. Crown 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
For more information, contact: Thomas T. Fischer, Vice President, Investor Relations and Corporate Affairs, (215) 552-3720.
View original content:https://www.prnewswire.com/news-releases/crown-announces-final-results-and-expiration-of-cash-tender-offer-for-debt-securities-302620271.html
SOURCE Crown Holdings, Inc.
FAQ
What were the final results of Crown's Nov 19, 2025 tender offer for CCK debentures?
When will Crown (CCK) settle payments for the accepted debentures?
Will Crown include interest when paying for purchased Debentures in the CCK tender offer?
How much of CCK's 2026 debentures remain outstanding after tenders?
Who were the dealer managers and tender agent for Crown's tender offer (CCK)?
Where can CCK debenture holders find offer documents or get questions answered?
