CROWN HOLDINGS, INC. ANNOUNCES SENIOR NOTES OFFERING
Crown Holdings (NYSE: CCK) has announced plans to offer $500 million in senior unsecured notes due 2033 through its subsidiary Crown Americas LLC. The company intends to use the proceeds, along with cash on hand and borrowings from its senior secured revolving credit facility, to repay its 4.750% senior notes due 2026 and cover related expenses.
The notes will be issued through a private placement and resold to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act. The notes have not been registered under the Securities Act and cannot be offered or sold in the U.S. without registration or an applicable exemption.
Crown Holdings (NYSE: CCK) ha annunciato l'intenzione di offrire 500 milioni di dollari in obbligazioni senior non garantite con scadenza 2033 tramite la sua controllata Crown Americas LLC. L'azienda prevede di utilizzare i proventi, insieme alla liquidità disponibile e ai finanziamenti derivanti dalla sua linea di credito senior garantita revolving, per rimborsare le obbligazioni senior al 4,750% in scadenza nel 2026 e coprire le spese correlate.
Le obbligazioni saranno emesse tramite un collocamento privato e rivendute a investitori istituzionali qualificati ai sensi della Regola 144A e a soggetti non statunitensi secondo il Regolamento S del Securities Act. Le obbligazioni non sono state registrate ai sensi del Securities Act e non possono essere offerte o vendute negli Stati Uniti senza registrazione o un'esenzione applicabile.
Crown Holdings (NYSE: CCK) ha anunciado planes para ofrecer 500 millones de dólares en bonos senior no garantizados con vencimiento en 2033 a través de su subsidiaria Crown Americas LLC. La compañía tiene la intención de utilizar los ingresos, junto con el efectivo disponible y los préstamos de su línea de crédito revolvente senior garantizada, para pagar sus bonos senior al 4.750% con vencimiento en 2026 y cubrir los gastos relacionados.
Los bonos se emitirán mediante una colocación privada y se revenderán a compradores institucionales calificados bajo la Regla 144A y a personas no estadounidenses bajo el Reglamento S de la Ley de Valores. Los bonos no están registrados bajo la Ley de Valores y no pueden ofrecerse ni venderse en los EE.UU. sin registro o una exención aplicable.
Crown Holdings (NYSE: CCK)는 자회사 Crown Americas LLC를 통해 2033년 만기 5억 달러 규모의 선순위 무담보 채권을 발행할 계획을 발표했습니다. 회사는 이 자금과 보유 현금, 그리고 선순위 담보 회전 신용 시설에서 차입한 자금을 사용하여 2026년 만기 4.750% 선순위 채권을 상환하고 관련 비용을 충당할 예정입니다.
이 채권은 사모 방식으로 발행되며, 증권법의 144A 규칙에 따른 적격 기관 투자자와 증권법의 규정 S에 따른 미국 외 투자자에게 재판매됩니다. 이 채권은 증권법에 등록되지 않았으며 등록이나 적절한 면제 없이는 미국 내에서 제공되거나 판매될 수 없습니다.
Crown Holdings (NYSE : CCK) a annoncé son intention d’émettre 500 millions de dollars de billets seniors non garantis arrivant à échéance en 2033 via sa filiale Crown Americas LLC. La société prévoit d’utiliser les fonds levés, ainsi que sa trésorerie disponible et les emprunts de sa facilité de crédit renouvelable senior garantie, pour rembourser ses billets seniors à 4,750 % arrivant à échéance en 2026 et couvrir les frais associés.
Les billets seront émis dans le cadre d’un placement privé et revendus à des investisseurs institutionnels qualifiés conformément à la règle 144A, ainsi qu’à des personnes non américaines selon le règlement S du Securities Act. Ces billets n’ont pas été enregistrés en vertu du Securities Act et ne peuvent être offerts ou vendus aux États-Unis sans enregistrement ou exemption applicable.
Crown Holdings (NYSE: CCK) hat Pläne angekündigt, 500 Millionen US-Dollar an unbesicherten Senior Notes mit Fälligkeit 2033 über seine Tochtergesellschaft Crown Americas LLC anzubieten. Das Unternehmen beabsichtigt, die Erlöse zusammen mit vorhandenen Barmitteln und Krediten aus seiner gesicherten revolvierenden Senior-Kreditfazilität zu verwenden, um seine Senior Notes mit 4,750 % Zinsen und Fälligkeit 2026 zurückzuzahlen und damit verbundene Kosten zu decken.
Die Notes werden im Rahmen einer Privatplatzierung ausgegeben und gemäß Rule 144A an qualifizierte institutionelle Käufer sowie gemäß Regulation S an Nicht-US-Personen weiterverkauft. Die Notes sind nicht nach dem Securities Act registriert und dürfen in den USA ohne Registrierung oder eine anwendbare Ausnahme nicht angeboten oder verkauft werden.
- Refinancing of existing debt with new notes due 2033, extending debt maturity profile
- Strategic use of multiple funding sources including cash on hand and credit facility for debt management
- Increased debt load through new $500 million notes offering
- Potential impact on company's leverage and interest expenses
Insights
Crown Holdings' $500M note offering aims to refinance 2026 debt, potentially improving debt maturity profile and managing interest rate exposure.
Crown Holdings is launching a
The extension of debt maturities can be viewed as a prudent financial management decision in the current interest rate environment. By potentially locking in rates for a longer period, Crown is creating more predictable long-term financing costs and reducing near-term refinancing risks. The company's approach of combining these new notes with cash on hand and revolving credit facility borrowings to retire existing debt indicates a comprehensive liability management strategy.
The private placement structure targeting qualified institutional buyers under Rule 144A suggests Crown is seeking sophisticated investors while avoiding the more extensive disclosure requirements and regulatory hurdles of a public offering. This approach typically allows for faster execution and potentially more favorable terms.
While interest rates for the new notes aren't specified, this refinancing represents a standard corporate finance maneuver to optimize the company's capital structure. The impact on Crown's overall financial position will ultimately depend on the interest rate secured for these new notes compared to the
Crown intends to use the net proceeds from the offering, together with cash on hand and borrowings under Crown's senior secured revolving credit facility, to repay the
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-
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 offering, expected completion of the note offering, the interest rate, maturity date and other terms of any notes that may be issued, the prospective impact of the note offering, and the anticipated use of proceeds from the 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 note offering is 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 offering 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.
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SOURCE Crown Holdings, Inc.
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