Clifford Chance has advised on the issuance of US$425 million senior notes by Sealed Air Corporation and a related tender offer for its US$425 million 5.25% senior notes due 2023.
The notes, offered to institutional investors pursuant to Rule 144A and Regulation S, bear interest at a fixed rate of 5.000% and mature in 2029. Sealed Air used the net proceeds of this offering to repurchase and discharge its 5.25% senior notes due 2023.
A cross-disciplinary team at Clifford Chance advised Sealed Air, a world leader in the packaging industry, on the finance and tax aspects of the transaction.
Partner Gary Brooks and counsel Jason Parsont led the transaction with support from partners Avrohom Gelber and Paul Koppel; associates Allison Kelly and David Walsh; and law clerks Jarek Peterson and Jack Wakter.