Crown Holdings begins consent solicitation for 6¼% notes

By Angela McDaniels

Seattle, Nov. 21 - Crown Holdings, Inc. began soliciting consents from holders of its 6¼% first-priority senior secured notes due 2011 on Tuesday to amend the indenture governing the notes, according to an 8-K filing with the Securities and Exchange Commission.

Among other things, the proposed amendments would allow the company and its subsidiaries to incur an additional $200 million of pari passu first-priority debt secured by the collateral securing the notes and to make $100 million of additional restricted payments of any type.

The consent solicitation will expire at 5 p.m. ET on Dec. 4.

The company needs consents from holders of at least a majority in principal amount of the outstanding notes.

Crown is a Philadelphia-based designer, manufacturer and seller of packaging products for consumer goods.

© 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.