Crown European expects to sell €600 million 10-year bullet on Tuesday

By Paul A. Harris

Portland, Ore., April 27 – Crown European Holdings SA scheduled Monday conference calls with investors to roll out its proposed €600 million offering of 10-year senior notes (expected ratings Ba2/BB).

The Rule 144A and Regulation S for life deal is expected to price Tuesday.

Joint physical bookrunner BNP Paribas will bill and deliver. BofA Merrill Lynch is also a joint physical bookrunner.

BBVA, Credit Agricole CIB, Deutsche Bank Securities Inc., HSBC Bank, Banco Santander, UniCredit and Wells Fargo are joint bookrunners.

Barclays, Mizuho, Scotia and TD are co-managers.

The notes feature a par call six months prior to maturity but are otherwise non-callable.

The notes also feature a 101% poison put.

The Paris-based manufacturer of packaging products for consumer goods plans to use the proceeds to refinance bank debt.

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