Crown Holdings to retire notes due 2011, 2013 using offering proceeds

By Angela McDaniels

Tacoma, Wash., July 21 - Crown Holdings, Inc. plans to retire all or a portion of its outstanding €150 million first-priority senior secured notes due 2011 and all of its outstanding $200 million senior unsecured notes due 2013, according to an 8-K filing with the Securities and Exchange Commission.

The company will fund the retirement with the proceeds from subsidiary Crown European Holdings SA's planned offering of €350 million senior notes due 2018.

Proceeds from the offering will also be used for general corporate purposes.

Crown Holdings is based in Philadelphia and makes packaging products through its subsidiaries.

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