Business News

Sealed Air Completes Offering of Senior Notes Due 2017

Friday 19. June 2009 - Sealed Air Corporation (NYSE:SEE) announced today that it has successfully completed its previously announced offering of $400 million of senior unsecured notes due 2017 (the "Notes") pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the "Securities Act"). The Notes, with a coupon of 7.875%, were sold to investors at 97.837% of the aggregate principal amount.

The Company intends to use the net proceeds from the Notes for general corporate purposes, which may include the repurchase, retirement or redemption of a portion of the Company’s 3% Convertible Senior Notes due 2033.

The Notes have not been registered under the Securities Act, and may not be offered or sold in the United States without an applicable exemption from the registration requirements of the Securities Act.