Business News

Crown Holdings Announces Pricing of Senior Notes

Wednesday 06. May 2009 - Crown Holdings, Inc. (NYSE: CCK) announced today that it has priced and increased the size of its previously announced private placement to $400 million principal amount of 7-5/8% senior unsecured notes due 2017.

The senior notes were priced at 97.092% of the principal amount to yield 8-1/8% and will be issued by Crown Americas, LLC and Crown Americas Capital Corp. II, each a subsidiary of the Company, and will be unconditionally guaranteed by the Company and substantially all of its U.S. subsidiaries.

The Company intends to use the net proceeds of this offering for general corporate purposes consisting of the permanent repayment of indebtedness under the Company’s senior secured credit facilities, the repurchase of a portion of Crown European Holdings’ first priority notes and/or the funding of one or more acquisitions. Pending such application, the Company intends to use such net proceeds to temporarily repay existing indebtedness under its senior secured revolving credit facilities and accounts receivable securitization facilities.

The senior notes will be issued through a private placement and resold by initial purchasers to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended, or Regulation S. The senior notes will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security in any jurisdiction in which such offer or sale would be unlawful.