Crown Holdings to repay $400 million 7 5/8% notes via new note sale

By Tali David

Minneapolis, Jan. 3 - Crown Holdings, Inc. plans to use the proceeds of a n offering of new senior notes to redeem its outstanding $400 million 7 5/8% senior notes due 2017, according to an 8-K filed with the Securities and Exchange Commission.

It will also use proceeds to pay associated premiums, for general corporate purposes, including the temporary repayment of amounts outstanding under the company's senior secured revolving credit facilities, and for payment of fees and expenses

Crown is a Philadelphia-based designer, manufacturer and seller of packaging products for consumer goods.

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