Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Tenders > Headlines for 2010 > News item |
Crown Holdings begins tender offer for Crown European's 6¼% notes
By Angela McDaniels
Tacoma, Wash., Aug. 4 - Crown Holdings, Inc. has begun a tender offer for Crown European Holdings SA's €149,861,000 of 6¼% first-priority senior secured notes due 2011, according to a company news release.
Holders are being offered €1,042.50 per €1,000 principal amount plus accrued interest up to but excluding the payment date.
The offer will expire at 11 a.m. ET on Aug. 12.
The company plans to use cash on hand, including the proceeds from Crown European Holdings' recent offering of €500 million principal amount of senior unsecured notes, and/or borrowings under its existing revolving credit facility to fund the offer.
The offer is subject to conditions that include the availability of funds under the company's credit facilities. It is not contingent on the tender of any minimum principal amount of notes.
The dealer manager is Citigroup Global Markets Inc. (212 723-6106 or +44 20 7986 8969), and the information agent is Lucid Issuer Services Ltd. (+44 0 20 7704 0880).
Crown Holdings is based in Philadelphia and makes packaging products through its subsidiaries.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.