Sealed Air Announces Extension of Consent Solicitation with Respect to 8.375% Senior Notes Due 2021
November 24, 2014 at 7:31 AM EST
ELMWOOD PARK, N.J.--(BUSINESS WIRE)--Nov. 24, 2014--
Sealed Air Corporation (“Sealed Air” or the “Company”) (NYSE:SEE) today
announced that it has extended until 5:00 p.m., New York City time, on
November 28, 2014 (such date and time, the “New Expiration Date”), its
previously announced solicitation of consents (“Consent Solicitation”)
from holders of its 8.375% senior notes due 2021 (the “Notes”) to the
proposed amendments to the related indenture. Consents with respect to
the Notes may be revoked at any time prior to the earlier of (i) the New
Expiration Date and (ii) the time at which the requisite consents for
the Notes have been received. The Consent Solicitation had previously
been scheduled to expire on November 21, 2014.
Holders who have previously delivered consents do not need to redeliver
such consents or take any other action in response to this announcement
in order to consent or receive the consent payment upon the successful
conclusion of the Consent Solicitation.
This press release is for informational purposes only and is not a
solicitation of consents with respect to the Notes. The Consent
Solicitation is being made solely by the Consent Solicitation Statement
dated November 7, 2014 (the “Consent Solicitation Statement”) and the
related consent form, which set forth the complete terms of the Consent
Solicitation. Holders are referred to the Consent Solicitation Statement
and the related consent form for detailed terms and conditions of the
Consent Solicitation, all of which remain unchanged except as set forth
in this press release.
Questions concerning the terms of the Consent Solicitation should be
directed to J.P. Morgan Securities LLC by calling (800) 245-8812 (U.S.
toll-free) or (212) 270-1200 (collect) and Morgan Stanley & Co. LLC at
(800) 624-1808 (U.S. toll free) or (212) 761-1057 (collect). Requests
for assistance in completing and delivering a consent form or requests
for additional copies of the Consent Solicitation Statement and the
related consent form should be directed to Global Bondholder Services
Corporation, by calling (866) 924-2200 (U.S. toll-free) or (212) 430
3774 (banks and brokers) or in writing at 65 Broadway – Suite 404, New
York, NY 10006.
The Consent Solicitation is not being made to, and a consent form will
not be accepted from or on behalf of, a holder in any jurisdiction in
which the making of the Consent Solicitation or the acceptance thereof
would not be in compliance with the laws of such jurisdiction. In any
jurisdiction in which the securities laws or blue sky laws require the
Consent Solicitation to be made by a licensed broker or dealer, the
Consent Solicitation will be deemed to be made on behalf of the Company
by J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC or one or more
registered brokers or dealers that are appropriately licensed under the
laws of such jurisdiction.
Business
Sealed Air creates a world that feels, tastes and works better. In 2013,
Sealed Air generated revenue of approximately $7.7 billion by helping
our customers achieve their sustainability goals in the face of today’s
biggest social and environmental challenges. Our portfolio of widely
recognized brands, including Cryovac® brand food packaging solutions,
Bubble Wrap® brand cushioning and Diversey® cleaning and hygiene
solutions, ensures a safer and less wasteful food supply chain, protects
valuable goods shipped around the world and improves health through
clean environments. Sealed Air has approximately 25,000 employees who
serve customers in 175 countries. To learn more, visit www.sealedair.com.
Information on Sealed Air’s website is not incorporated into, and does
not form a part of, this press release.
Website Information
We routinely post important information for investors on our website, www.sealedair.com,
in the “Investor Relations” section. We use this website as a means of
disclosing material, non-public information and for complying with our
disclosure obligations under SEC Regulation FD. Accordingly, investors
should monitor the Investor Relations 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
Statements in this press release may be “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of
1995 concerning our business, consolidated financial condition and
results of operations. These statements include comments as to future
events that may affect Sealed Air, which are based upon management’s
current expectations and are subject to uncertainties, many of which are
outside Sealed Air’s control. Forward-looking statements can be
identified by such words as “anticipates,” “expects,” “believes,”
“plan,” “could,” “estimate,” “will” and similar expressions. A variety
of factors may cause actual results to differ materially from these
expectations, including economic conditions affecting packaging
utilization, changes in raw material costs, currency translation
effects, 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 may be revised and updated from time to time by our Quarterly Reports
on Form 10-Q and Current Reports on Form 8-K, as filed with the
Securities and Exchange Commission. These reports are available on the
Securities and Exchange Commission’s website at www.sec.gov
or our Investor Relations home page at http://ir.sealedair.com.
Information on Sealed Air’s website is not incorporated into, and does
not form a part of, this press release. Sealed Air does not undertake
any obligation to publicly update any forward-looking statement to
reflect events or circumstances after the date on which any such
statement is made or to reflect the occurrence of unanticipated events.
Source: Sealed Air Corporation
Sealed Air Corporation
Investor Contact:
Lori Chaitman,
201-703-4161
or
Media Contact:
Ken Aurichio, 201-703-4164