Dechert advised Crown Holdings, Inc. (NYSE: CCK) on an offering of US$700 million aggregate principal amount of 5.875% senior unsecured notes due 2033 issued at par by its subsidiary Crown Americas LLC.
The notes will be unconditionally guaranteed by Crown and certain of its subsidiaries.
Crown intends to use the net proceeds, along with cash on hand and borrowings under Crown's senior secured revolving credit facility, to repay the 4.750% senior notes due 2026 and cover related fees and expenses.
Dechert previously advised Crown on a senior notes offering of €600 million aggregate principal amount of 4.500% senior unsecured notes due 2030.
Crown Holdings, Inc., through its subsidiaries, is a leading global supplier of rigid packaging products to consumer marketing companies, as well as transit and protective packaging products, equipment and services to a broad range of end markets.
The Dechert team that advised Crown Holdings, Inc. included corporate partners Ian Hartman and Michael Darby with associates Conor Shea, Gurbir Sandhu, Dillan Gomes, Bryan Wilson and Katie Chung; and tax partner Kevin Zaragoza and associate Abigail Hopper.
About Dechert
Dechert is a global law firm that advises asset managers, financial institutions and corporations on issues critical to managing their business and their capital – from high-stakes litigation to complex transactions and regulatory matters. We answer questions that seem unsolvable, develop deal structures that are new to the market and protect clients’ rights in extreme situations. Our nearly 1,000 lawyers across 16 offices globally focus on the financial services, private equity, private credit, real estate, life sciences and technology sectors.
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