debt
confidence high
sentiment neutral
materiality 0.30
Crown Holdings subsidiary launches cash tender offer for $350M 7 3/8% debentures due 2026
CROWN HOLDINGS, INC.
- Crown Cork & Seal offers to purchase any and all outstanding $350M (aggregate) 7 3/8% Debentures due 2026 (CUSIP 228255 AH8).
- Tender offer expires November 18, 2025 at 5:00 PM ET; settlement expected November 21, 2025.
- Consideration set at fixed spread of 15 bps over 4.375% U.S. Treasury due 12/15/2026, plus accrued interest.
- No minimum tender condition; Dealer Managers: Mizuho Securities and PNC Capital Markets.
- Holders not tendering may face reduced trading liquidity for their debentures.