New Issue-Crown Americas sells $400 mln in 8-yr sr notes

Tue May 5, 2009 11:40pm BST
[-] Text [+]
 May 5 (Reuters) - Crown Americas LLC and Crown Americas
Capital Corp II, subsidiaries of Crown Holdings Inc (CCK.N: Quote, Profile, Research), on
Tuesday sold $400 million of eight-year senior notes in the
144a private placement market, said IFR, a Thomson Reuters
service.
 The size of the deal was increased from an originally
planned $250 million.
 Deutsche Bank, Bank of America and Citigroup were the joint
bookrunning managers for the sale.
BORROWER: CROWN AMERICAS LLC/CROWN AMERICAS CAPITAL CORP II
AMT $400 MLN*      COUPON 7.625 PCT    MATURITY 5/15/2017  
TYPE SR NOTES      ISS PRICE 97.092    FIRST PAY 11/15/2009
MOODY'S B1         YIELD 8.125 PCT     SETTLEMENT 5/8/2009 
S&P BB-MINUS       SPREAD 522 BPS/     PAY FREQ SEMI-ANNUAL
FITCH N/A           MORE THAN TREAS    NON-CALLABLE 4-YEARS**
* FACE AMT:400 MLN. PROCEEDS:$388.368 MLN.
** NON-CALLABLE 4-YRS THEN AT 103.813, 101.906, 100.
EQUITY CLAW: 3YR 35% AT 107.625.


 
 
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