Crown Holdings to hold bank meeting Thursday for $1.3 billion equivalent credit facility

By Paul A. Harris

St. Louis, Oct. 19 - Crown Holdings Inc. will hold a bank meeting Thursday for its $1.3 billion equivalent credit facility, according to an informed source.

Deutsche Bank and Lehman Brothers are leading the deal.

The facility will be comprised of an $800 million revolving credit facility and a $250 million term loan, both talked at Libor plus 150 basis points, and a €250 million term loan talked at Euribor plus 150 bps.

The company also plans to sell new senior unsecured notes.

Proceeds will be used to fund the tender for any and all of Crown European Holdings SA's outstanding notes.

Crown Holdings is a Philadelphia-based packaging company.

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