Sealed Air Cp Stock Price, News & Analysis

Sealed Air Corporation (NYSE: SEE) announced the expiration of its cash tender offer for its 4.500% senior notes due 2023, which ended on January 27, 2023, at 5:00 p.m. EST. A total of €233,297,000, or 58.32% of the outstanding amount, was tendered. The expected settlement date for the Tender Offer is February 1, 2023, with holders receiving €1,005.60 for each €1,000 principal amount plus accrued interest. Sealed Air plans to meet any outstanding obligations on non-tendered Notes as per the indenture terms. Goldman Sachs & Co. LLC is the exclusive Dealer Manager for this offer.

Sealed Air Corporation (NYSE: SEE) announced a cash tender offer for its 4.500% senior notes due 2023, with a Total Consideration of €1,005.60 per €1,000 principal amount of the notes accepted for purchase. The Total Consideration was calculated based on a fixed spread of 50 basis points plus a yield to maturity of 2.479%. The tender offer will expire today at 5:00 p.m. New York City time unless extended. The company will also pay accrued and unpaid interest up to the expected settlement date of February 1, 2023. Goldman Sachs & Co. LLC is the exclusive Dealer Manager, and Global Bondholder Services Corporation is the Depositary and Information Agent.

Sealed Air (SEE) is enhancing its commitment to sustainability by investing in circular economy solutions aimed at reducing plastic waste. On January 18, 2023, the company announced a $5 million investment in Closed Loop Partners' Circular Plastics Fund, contributing to a $100 million goal for recycling technology. Alongside partners like ExxonMobil and Ahold Delhaize USA, SEE is developing low-carbon food-grade packaging solutions. These collaborations focus on increasing recycling capabilities and advancing sustainable practices, thus positioning Sealed Air as a leader in the transition towards a waste-free future.

Sealed Air Corporation (NYSE: SEE) has announced the pricing of its offering of 6.125% senior notes due 2028, aiming to raise approximately $767.7 million. The funds will be utilized for the acquisition of LB Holdco, Inc., the parent company of Liqui-Box, Inc., and for repurchasing outstanding 4.500% senior notes due 2023. If the acquisition does not close by May 8, 2024, the company will mandatorily redeem $350 million of the notes. The offering is expected to close on January 31, 2023, pending customary conditions.

Sealed Air Corporation (NYSE: SEE) announced an offering of senior notes due 2028, with proceeds primarily allocated for the acquisition of Liqui-Box and repurchase of outstanding 4.500% senior notes due 2023. The Issuers intend to finance the Liqui-Box acquisition through proceeds from the offering, a loan, and cash reserves. If the acquisition is not completed by May 8, 2024, $350 million of the notes will be mandatorily redeemed. The offering is limited to qualified institutional buyers and non-U.S. persons under Regulation S. This press release does not constitute an offer to sell or solicit buy orders for the notes.

Sealed Air Corporation (NYSE: SEE) has initiated a cash tender offer for its outstanding 4.500% Senior Notes due 2023, totaling €400 million. The offer, detailed in the Offer to Purchase dated January 17, 2023, will expire at 5:00 p.m. NY time on January 27, 2023, unless extended. Validly tendered notes will be settled by February 1, 2023. Conditions for acceptance include the successful completion of new debt securities offerings. The total consideration for the notes will be determined based on a fixed spread plus yield, with accrued interest also to be paid. Goldman Sachs is the Dealer Manager for this offer.

Sealed Air (SEE) emphasizes its commitment to sustainability through innovative packaging solutions aimed at reducing waste and environmental impact. The company highlights its Digital Packaging and Environmental Product Declarations as key tools for promoting transparency across supply chains. New products like CRYOVAC® FlexPrep® pouches and OptiDure ODF bags showcase significant reductions in material usage and food waste. Additionally, collaborations with ExxonMobil and Ahold Delhaize USA aim to enhance recycling efforts, ensuring safer food packaging.

Sealed Air Corporation (NYSE: SEE) will announce its Q4 and 2022 results along with the 2023 outlook on February 9, 2023, at 7:00 a.m. ET. A conference call led by CEO Ted Doheny and CFO Chris Stephens will follow at 10:00 a.m. ET. The event can be accessed on Sealed Air's Investors homepage. In 2021, the company achieved sales of $5.5 billion and employs about 16,500 people across 114 countries. Sealed Air is committed to sustainability, including goals to make all packaging recyclable or reusable by 2025 and achieve net-zero carbon emissions by 2040.