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Crown Holdings to redeem all of subsidiaries' 7 5/8% notes due 2013
By Devika Patel
Knoxville, Tenn., July 28 - Crown Holdings, Inc. announced that subsidiaries Crown Americas LLC and Crown Americas Capital Corp. will redeem all of their 7 5/8% senior notes due 2012 at 103.813 plus interest to, but not including, Aug. 27, the redemption date.
The company plans to fund the redemption with a portion of the proceeds from an offering of 7 1/8% senior notes due 2018, which was recently issued by Crown European Holdings SA, a subsidiary.
Crown Holdings is based in Philadelphia and makes packaging products through its subsidiaries.
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