Crown Holdings Announces Key Financial Terms for Debt Securities Tender Offer
On November 18, 2025, Crown Holdings, Inc. (NYSE: CCK) communicated the pricing terms for its cash tender offer, aimed at acquiring all of the Company's 7 3/8% Debentures maturing in 2026. This tender offer has been initiated through its wholly-owned subsidiary, Crown Cork & Seal Company, Inc. The fundamental details and conditions regarding this tender offer were previously outlined in the Offer to Purchase dated November 12, 2025.
The payment for the Debentures selected for purchase during this tender is established based on a fixed spread relative to the yield of certain U.S. Treasury Securities. A table detailing the financial terms, including reference yields, fixed spreads, and the total consideration payable, accompanies the announcement.
The Company has outlined the following key figures related to the tender offer:
The tender offer will remain available until 5:00 p.m. New York City time on November 18, 2025, unless it is extended or terminated prematurely as specified in the Offer to Purchase. Accordingly, the Company retains the right to make amendments to the tender offer, adhering to legal requirements.
After meeting the tender offer's particular requirements, settlements for any Debentures that are validly tendered before the expiration are projected for November 21, 2025. Mizuho Securities USA LLC and PNC Capital Markets LLC are acting as Dealer Managers, while Global Bondholder Services Corp. serves as the Tender and Information Agent. If any parties have inquiries regarding the tender offer, they can contact Mizuho Securities or PNC Capital Markets using the numbers provided in the official press release.
It's important to note that this announcement does not constitute an offer to buy or a solicitation to sell the Debentures. The tender offer is solely made via the Offer to Purchase and Notice of Guaranteed Delivery. Crown Holdings and associated entities are not providing any recommendations regarding tendering the Debentures.
Crown Holdings, Inc. is recognized as a leading global supplier of rigid packaging solutions for various consumer marketing companies. The company's headquarters is situated in Tampa, Florida, and it operates through various subsidiaries, ensuring a broad range of products and services designed to meet diverse market needs. Those interested in further information can explore the company's official website at www.crowncork.com.
The payment for the Debentures selected for purchase during this tender is established based on a fixed spread relative to the yield of certain U.S. Treasury Securities. A table detailing the financial terms, including reference yields, fixed spreads, and the total consideration payable, accompanies the announcement.
Pricing Information
The Company has outlined the following key figures related to the tender offer:
- - Title of Security: 7 3/8% Debentures due 2026
- - CUSIP: 228255 AH8
- - Aggregate Principal Outstanding: $350,000,000
- - Reference U.S. Treasury Security: 4.375% due 12/15/2026
- - Reference Yield: 3.693%
- - Fixed Spread Basis Points: 15 bps
- - Tender Offer Consideration: $1,036.53 across each $1,000 principal amount validly tendered before the offering's expiration.
The tender offer will remain available until 5:00 p.m. New York City time on November 18, 2025, unless it is extended or terminated prematurely as specified in the Offer to Purchase. Accordingly, the Company retains the right to make amendments to the tender offer, adhering to legal requirements.
Important Dates and Details
After meeting the tender offer's particular requirements, settlements for any Debentures that are validly tendered before the expiration are projected for November 21, 2025. Mizuho Securities USA LLC and PNC Capital Markets LLC are acting as Dealer Managers, while Global Bondholder Services Corp. serves as the Tender and Information Agent. If any parties have inquiries regarding the tender offer, they can contact Mizuho Securities or PNC Capital Markets using the numbers provided in the official press release.
Cautionary Note
It's important to note that this announcement does not constitute an offer to buy or a solicitation to sell the Debentures. The tender offer is solely made via the Offer to Purchase and Notice of Guaranteed Delivery. Crown Holdings and associated entities are not providing any recommendations regarding tendering the Debentures.
Company Background
Crown Holdings, Inc. is recognized as a leading global supplier of rigid packaging solutions for various consumer marketing companies. The company's headquarters is situated in Tampa, Florida, and it operates through various subsidiaries, ensuring a broad range of products and services designed to meet diverse market needs. Those interested in further information can explore the company's official website at www.crowncork.com.
Topics Financial Services & Investing）
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