Sealed Air starts tender offer for any and all 4½% notes due 2023

Chicago, Jan. 17 – Sealed Air Corp. started a cash tender offer for any and all of its €400 million outstanding 4½% senior notes due 2023 (ISINs: XS1247795963, XS1247796185), according to a press release.

The pricing consideration will be based on the 2% Bund due Aug. 15, 2023 and a fixed spread of 50 basis points. Pricing will take place at 2 p.m. ET on Jan. 27.

Interest will also be paid to the settlement date.

The offer will expire at 5 p.m. ET on Jan. 27, also the withdrawal deadline.

Settlement is planned for Feb. 1.

There are guaranteed delivery procedures.

The tender offer is conditioned on the completion of a sale of new debt securities.

Goldman Sachs & Co. LLC is the dealer manager (800 828-3182, 212 902-5962).

Global Bondholder Services Corp. is the depositary and information agent (855 654-2014, 212 430-3774, contact@gbsc-usa.com).

Sealed Air is a Charlotte, N.C.-based provider of packaging solutions.

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