Sealed Air sets consideration for tender offer for 5 1/8% notes

Chicago, Nov. 15 – Sealed Air Corp. announced the total consideration it will pay tendering noteholders in its offer to buy any and all of its $425 million outstanding 5 1/8% senior notes due 2024 (Cusips: 81211KAW0, U81193AN1), according to a press release.

Pricing was set at 2 p.m. ET on Nov. 15, determined at $992.97 per $1,000 note.

The total consideration was figured using the 4½% U.S. Treasury due Nov. 30, 2024 and a fixed spread of 50 basis points.

The company will also pay accrued interest.

The offer expired at 5 p.m. ET on Nov. 15. Tenders could be withdrawn prior to that time.

Tenders may also be submitted under guaranteed delivery procedures.

Settlement is slated for Nov. 20.

BofA Securities, Inc. (888 292-0070 or 980 683-5454) is dealer manager for the offer.

The depositary and information agent is Global Bondholder Services Corp. (contact@gbsc-usa.com; 855 654-2014 or, for banks and brokers, 212 430-3774).

The packaging company is based in Charlotte, N.C.

© 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.