Crown intends to use the net proceeds of the two offerings, together with other available funds, to repay a portion of its term loan facility, to pay fees and expenses associated with the offering of the notes and for general corporate purposes.
The notes will be issued through a private placement and resold by initial purchasers to qualified institutional buyers under Rule 144A promulgated under the Securities Act of 1933, as amended, and to persons outside the United States under Regulation S of the Securities Act. The notes will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security in any jurisdiction in which such offer or sale would be unlawful.
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 expected completion of the note offering, the prospective impact of the note offerings and plans to repay certain indebtedness, 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 offerings are subject to a number of conditions. There can be no assurance that the note offerings 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, 2015 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.
Headquartered in Philadelphia, PA, Crown Holdings, Inc. is a leading manufacturer of packaging products for consumer marketing companies around the world. Crown makes a wide range of metal packaging for food, beverage, household and personal care and industrial products and metal vacuum closures and caps. As of December 31, 2015, Crown operated 147 plants located in 37 countries, employing approximately 24,000 people. For more information, visit www.crowncork.com.
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.