Sealed Air receives $202.55 million in tenders for 5 1/8% notes

Chicago, Nov. 15 – Sealed Air Corp. announced it received $202,549,000 in tenders from its any-and-all offer to buy its $425 million outstanding 5 1/8% senior notes due 2024 (Cusips: 81211KAW0, U81193AN1), according to a press release.

Additionally, noteholders tendered $872,000 of the notes via guaranteed delivery.

The offer ended at 5 p.m. ET on Nov. 15, also the withdrawal deadline.

Earlier in the day, the company announced that it would be paying a consideration of $992.97 per $1,000 note. The company will also pay accrued interest.

Pricing was set at 2 p.m. ET on Nov. 15, using the 4½% U.S. Treasury due Nov. 30, 2024 and a fixed spread of 50 basis points.

Settlement is slated for Nov. 20.

BofA Securities, Inc. (888 292-0070 or 980 683-5454) is dealer manager for the offer.

The depositary and information agent is Global Bondholder Services Corp. (contact@gbsc-usa.com; 855 654-2014 or, for banks and brokers, 212 430-3774).

The packaging company is based in Charlotte, N.C.

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