Sealed Air Announces Pricing of Senior Notes

ELMWOOD PARK, N.J., Friday, September 16, 2011 – Sealed Air Corporation (“Sealed Air”) (NYSE: SEE) today announced the pricing of its offering of $750 million aggregate principal amount of 8.125% senior notes due 2019 (the “2019 Notes”) and $750 million aggregate principal amount of 8.375% senior notes due 2021 (the “2021 Notes” and, together with the 2019 Notes, the “Notes”). The Notes will be guaranteed by certain of Sealed Air’s domestic subsidiaries. Sealed Air intends to use the net proceeds from the offering to finance a portion of the previously announced acquisition of Diversey Holdings, Inc. Net proceeds from the sale of the Notes, after underwriting discounts and commissions and the Company’s estimated fees and expenses, is expected to be approximately $1.47 billion.

The Notes and related guarantees will be offered only to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons in transactions outside the United States under Regulation S of the Securities Act. The Notes have not been registered under the Securities Act, and, unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Business For over fifty years, Sealed Air has been a leading global innovator and manufacturer of a wide range of packaging and performance-based materials and equipment systems that serve an array of food, industrial, medical, and consumer applications. Operating in 52 countries, Sealed Air’s international reach generated revenue of approximately $4.5 billion in 2010. With widely recognized brands such as Bubble Wrap® brand cushioning, Jiffy® protective mailers, Instapak® foam-in-place systems and Cryovac® packaging technology, Sealed Air continues to identify new trends, foster new markets, and deliver innovative solutions to its customers.

Be the first to comment on "Sealed Air Announces Pricing of Senior Notes"

Leave a comment

Your email address will not be published.