CHARLOTTE, N.C., June 17,
2024 /PRNewswire/ -- Sealed Air Corporation ("SEE")
(NYSE: SEE) today announced, together with Sealed Air Corporation
(US) (together with SEE, the "Issuers"), that the Issuers commenced
an offering of senior notes due 2032 (the "Notes"). The Notes will
be jointly and severally, and irrevocably and unconditionally,
guaranteed on a senior unsecured basis by each of SEE's existing
and future wholly owned domestic subsidiaries that guarantee its
senior secured credit facilities, subject to release under certain
circumstances, although, for purposes of this offering, Sealed Air
Corporation (US) is a co-issuer and not a guarantor.
The Issuers intend to use the net proceeds from the offering of
the Notes, (i) to repurchase any or all of SEE's outstanding 5.500%
senior notes due 2025 (the "2025 Notes") pursuant to the tender
offer commenced by SEE today and to pay related premiums, fees and
expenses in connection therewith, and (ii) to the extent of any
remaining proceeds after giving effect to the foregoing
transaction, for general corporate purposes. The tender offer is
conditioned upon, among other things, the completion of the
offering of the Notes; however, the closing of the offering of the
Notes is not conditioned on the consummation of the tender offer.
If SEE purchases less than the full aggregate principal amount of
the outstanding 2025 Notes, SEE intends to satisfy and discharge
any remaining 2025 Notes in accordance with the terms of the
indenture governing the 2025 Notes.
The Notes and related guarantees will be offered only to
qualified institutional buyers under Rule 144A of the Securities
Act of 1933, as amended (the "Securities Act"), and to non-U.S.
persons in transactions outside the
United States under Regulation S of the Securities Act. The
Notes 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 from, or in a transaction not subject to, the
registration requirements of the Securities Act and other
applicable securities laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
Notes, in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction. This press release
does not constitute an offer to purchase the 2025 Notes or a notice
of satisfaction and discharge with respect to the 2025 Notes.
About SEE
Sealed Air Corporation (NYSE: SEE), is a leading global provider
of packaging solutions that integrate sustainable, high-performance
materials, automation, equipment and services. SEE designs,
manufactures and delivers packaging solutions that preserve food,
protect goods and automate packaging processes. We deliver our
packaging solutions to an array of end markets including fresh
proteins, foods, fluids and liquids, medical and life science,
e-commerce retail, logistics and omnichannel fulfillment
operations, and industrials. Our globally recognized solution
brands include CRYOVAC® brand food
packaging, LIQUIBOX® brand liquids
systems, SEALED AIR® brand protective
packaging, AUTOBAG® brand automated
packaging systems, and BUBBLE
WRAP® brand packaging. In 2023, SEE generated
$5.5 billion in sales and has
approximately 17,000 employees who serve customers in
115 countries/territories.
Website Information
We routinely post important information for investors on our
website in the Investors section. We use this website as a means of
disclosing material, non-public information and for complying with
our disclosure obligations under Regulation FD. Accordingly,
investors should monitor the Investors section of our website, in
addition to following our press releases, SEC filings, public
conference calls, presentations and webcasts. The information
contained on, or that may be accessed through, our website is not
incorporated by reference into, and is not a part of, this
document.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 concerning our business, consolidated
financial condition, results of operations and cash flows.
Forward-looking statements are subject to risks and uncertainties,
many of which are outside our control, which could cause actual
results to differ materially from these statements. Therefore, you
should not rely on any of these forward-looking statements.
Forward-looking statements can be identified by such words as
"anticipate," "believe," "plan," "assume," "could," "should,"
"estimate," "expect," "intend," "potential," "seek," "predict,"
"may," "will" and similar references to future periods. All
statements other than statements of historical facts 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, among others, statements we make regarding expected future
operating results, expectations regarding the results of
restructuring and other programs, expectations regarding future
impacts of acquisitions, anticipated levels of capital expenditures
and expectations of the effect on our financial condition of
claims, litigation, environmental costs, contingent liabilities and
governmental and regulatory investigations and proceedings.
The following are important factors that we believe could cause
actual results to differ materially from those in our
forward-looking statements: global economic and political
conditions, including recessionary and inflationary pressures,
currency translation and devaluation effects, changes in raw
material pricing and availability, competitive conditions, the
success of new product offerings, failure to realize synergies and
other financial benefits from acquisitions within the expected time
frames, greater than expected costs or difficulties related to
acquisition integrations, consumer preferences, the effects of
animal and food-related health issues, the effects of epidemics or
pandemics, negative impacts related to the ongoing conflict between
Russia and Ukraine and related sanctions, export
restrictions and other counteractions thereto, uncertainties
relating to existing or potential increased hostilities in the
Middle East, changes in energy
costs, environmental matters, the success of our restructuring
activities, the success of our merger, acquisition and equity
investment strategies, the success of our financial growth,
profitability, cash generation and manufacturing strategies and our
cost reduction and productivity efforts, changes in our credit
ratings, regulatory actions and legal matters and the other
information referenced in the "Risk Factors" section appearing in
our most recent Annual Report on Form 10-K, as filed with the
Securities and Exchange Commission, and as revised and updated by
our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Any forward-looking statement made by us is based only on
information currently available to us and speaks only as of the
date on which it is made. We undertake 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.
Company Contacts
Investor
Relations
Brian Sullivan
Brian.c.sullivan@sealedair.com
704.503.8841
Louise Lagache
Louise.lagache@sealedair.com
Media
Christina
Griffin
Christina.griffin@sealedair.com
704.430.5742
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SOURCE SEE
