Attached files
file | filename |
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8-K - FORM 8-K - SEALED AIR CORP/DE | y05173e8vk.htm |
EX-10.1 - EX-10.1 - SEALED AIR CORP/DE | y05173exv10w1.htm |
Exhibit 99.1
Sealed Air Corporation | ||||
200 Riverfront Boulevard | ||||
Elmwood Park, NJ 07407 | ||||
Contact: | Amanda Butler 201-791-7600 |
for release: September 16, 2011
SEALED AIR ANNOUNCES PRICING OF SENIOR NOTES
ELMWOOD PARK, N.J., Friday, September 16, 2011 Sealed Air Corporation (Sealed Air) (NYSE:
SEE) today announced the pricing of its offering of $750 million aggregate principal amount of
8.125% senior notes due 2019 (the 2019 Notes) and $750 million aggregate principal amount of
8.375% senior notes due 2021 (the 2021 Notes and, together with the 2019 Notes, the Notes).
The Notes will be guaranteed by certain of Sealed Airs domestic subsidiaries. Sealed Air intends
to use the net proceeds from the offering to finance a portion of the previously announced
acquisition of Diversey Holdings, Inc. Net proceeds from the sale of the Notes, after underwriting
discounts and commissions and the Companys estimated fees and expenses, is expected to be
approximately $1.47 billion.
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.
Business
For over fifty years, Sealed Air has been a leading global innovator and manufacturer of a
wide range of packaging and performance-based materials and equipment systems that serve an array
of food, industrial, medical, and consumer applications. Operating in 52 countries, Sealed Airs
international reach generated revenue of approximately $4.5 billion in 2010. With widely
recognized brands such as Bubble Wrap® brand cushioning, Jiffy® protective
mailers, Instapak® foam-in-place systems and Cryovac® packaging technology,
Sealed Air continues to identify new trends, foster new markets, and deliver innovative solutions
to its customers.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by such
words as anticipates, expects, will and similar expressions. A variety of factors may cause
actual results to differ materially from these expectations, including economic conditions and
legal proceedings. For more extensive information, see Risk Factors and Cautionary Notice
Regarding Forward-Looking Statements, which appear in our most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission, and as may
be revised and updated by our Quarterly Reports on Forms 10-Q and Current Reports on Form 8-K.
While we may elect to update forward-looking statements at some point in the future, we
specifically disclaim any obligation to do so, whether as a result of new information, future
events or otherwise.