CHARLOTTE, North Carolina – (COMMERCIAL THREAD) – Sealed Air Corporation (“Sealed Air” or the “Company”) (NYSE: SEE) today announced the closing of its previously announced offering for an aggregate principal amount of $ 600 million of secured notes of Senior 1.573% due 2026 (the “Notes”). The Notes were sold to Investors at 100.0% of their aggregate principal. The Notes are jointly and severally, and irrevocably and unconditionally, secured on a senior secured basis by each of the existing and future domestic subsidiaries wholly owned by Sealed Air which secure its senior secured credit facilities, subject to release under certain circumstances. The Notes and related guarantees are secured on a priority basis by liens on substantially all of our personal property guarantee obligations and those of our national guarantor subsidiaries that we owe to lenders under our senior secured credit facilities. rank on a pari passu basis, subject to certain exceptions. .
Sealed Air uses the net proceeds from the offering of the Notes (i) to repurchase its outstanding 4.875% Senior Notes due 2022 (the “2022 Notes”) tendered as part of the public tender offer launched by the Company on September 15, 2021, (ii) to satisfy and pay off all of its remaining outstanding 2022 Notes in accordance with the terms of the 2022 Notes Act, (iii) to pay the premiums, fees and expenses thereon and (iv ) for general business purposes.
The Securities and associated guarantees have been offered only to institutional buyers qualified under Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”), and to non-US persons in connection with transactions in outside the United States under Regulation S of the Securities Act. The Securities 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 or as part of a transaction not subject to the registration requirements of the Securities Act. and other applicable securities laws.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there has been no sale of the Tickets, in any jurisdiction in which such an offer, solicitation or sale would be illegal before. registration or qualification under the securities laws of such jurisdiction.
About air sealed
Sealed Air (NYSE: SEE) is on a mission to protect, solve critical packaging issues, and make our world a better place than we’ve found it. Our technology, solutions and packaging systems create a safer, more resilient and less expensive global food supply chain, enable e-commerce and protect goods transported around the world.
Our globally recognized brands include CRYOVAC® branded food packaging, AIR SEALED® branded protective packaging, AUTOBAG® branded automated systems, BUBBLE WRAP® branded packaging, and SEE™ Automation solutions.
SEE’s operating model, along with leading experts in materials, engineering, technology and science, is driving our innovative solution systems to be more sustainable, automated and digitally connected.
SEE leads the packaging industry to create a more environmentally, socially and economically sustainable future and is committed to designing or advancing 100% of its packaging materials to be recyclable or reusable. by 2025, and a bolder target to achieve net zero carbon emissions. in its global operations by 2040. The company is also committed to a diverse workforce and an inclusive culture through its 2025 Commitment to Diversity, Equity and Inclusion .
SEE generated sales of $ 4.9 billion in 2020 and has approximately 16,500 employees who serve customers in 117 countries / territories. To learn more, visit sealair.com.
We regularly post important information for investors on our website, sealair.com, in the Investors section. We use this website as a means to disclose material, non-public information and to comply with our disclosure obligations under the FD Regulation. Accordingly, investors should keep an eye on the Investors section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. Information contained on or accessible from our website is not incorporated by reference into and does not form part of this document.
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 regarding our business, consolidated financial condition, results of operations or cash flows. Forward-looking statements are subject to risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from such statements. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements may be identified by words such as “anticipate”, “believe”, “plan”, “assume”, “could”, “should”, “estimate”, “” seek “,” predict “,” may “,” will “and similar references to future periods. All statements other than statements of historical fact included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements Examples of forward-looking statements include, but are not limited to, statements we make regarding expected future results of operations, expectations regarding the results of restructuring and other programs, expected levels of capital expenditures and expectations of the effect on our financial position of claims, litigation, costs, contingent liabilities and government and regulatory investigations and proceedings.
The following are significant factors that we believe could cause actual results to differ materially from our forward-looking statements: global economic and political conditions, effects of currency translation and devaluation, changes in prices and the availability of raw materials, competitive conditions, success of new product offerings, consumer preferences, the effects of animal and food health problems, the effects of epidemics or pandemics, including coronavirus disease 2019 (COVID- 19), the evolution of energy costs, environmental issues, the success of our restructuring activities, the success of our merger, acquisition and equity investment strategies, the success of our growth strategies financial, profitability, cash generation and manufacturing and our efforts to reduce costs and productivity, evolve ion of our credit ratings, the tax benefit associated with the Settlement Agreement (as defined in our 2020 Annual Report on Form 10-K), regulatory actions and legal matters and other information referenced in the section “Risk Factors” appearing in our most recent annual report on Form 10-K, as filed with the Securities and Exchange Commission, and as reviewed and updated by our quarterly reports on Form 10-Q and Current reports on Form 8-K. Any forward-looking statement we make is based solely on information currently available to us and speaks only as of the date on which it is made. We assume no obligation to publicly update any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.