Crown Holdings Announces Senior Notes Offering

PHILADELPHIA, May 5  /PRNewswire-FirstCall/ -- Crown Holdings, Inc. (NYSE: CCK) (the "Company") announced today that it intends to offer senior unsecured notes due 2017 expected to generate $250 million of net proceeds, subject to market conditions.  The senior notes would be issued by Crown Americas, LLC and Crown Americas Capital Corp. II, each a subsidiary of the Company, and would be unconditionally guaranteed by the Company and substantially all of its U.S. subsidiaries.

The Company intends to use the net proceeds of this offering for general corporate purposes consisting of the permanent repayment of indebtedness under its senior secured credit facilities, the repurchase of a portion of Crown European Holdings SA's first priority notes and/or the funding of one or more acquisitions.  Pending such application, the Company intends to use such net proceeds to temporarily repay existing indebtedness under its senior secured revolving credit facilities and accounts receivable securitization facilities.

The senior notes would be issued through a private placement and resold by initial purchasers to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended, or the Securities Act, and Regulation S.  The senior notes would not be registered under the Securities Act and could not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security in any jurisdiction in which such offer or sale would be unlawful.

Cautionary Note Regarding Forward-Looking Statements

Except for historical information, all other information in this press release consists of forward-looking statements within the meaning of the federal securities laws. These forward-looking statements involve a number of risks, uncertainties and other factors, which may cause the actual results to be materially different from those expressed or implied in the forward-looking statements. Important factors that could cause the statements made in this press release to differ include, without limitation, that the Company's refinancing plan is subject to a number of conditions and approvals and the final terms may vary substantially as a result of market and other conditions. There can be no assurance that the refinancing plan will be completed as described herein or at all.  There can be no assurance that the Company will pursue or consummate any acquisition, or if the Company were to consummate an acquisition, the terms thereof.  Other important factors are discussed under the caption "Forward-Looking Statements" in the Company's Form 10-K Annual Report for the year ended December 31, 2008 and in subsequent filings. The Company does not intend to review or revise any particular forward-looking statement in light of future events.

About Crown Holdings, Inc.

Crown Holdings, Inc., through its affiliated companies, is a leading supplier of packaging products to consumer marketing companies around the world. World headquarters are located in Philadelphia, Pennsylvania.

For more information, contact: Timothy J. Donahue, Executive Vice President and Chief Financial Officer, [phone]. 

DATASOURCE: Crown Holdings, Inc.



CONTACT:  Timothy J. Donahue, Executive Vice President and Chief

Financial Officer of Crown Holdings, Inc., [phone]



Web Site:  http://www.crowncork.com/ 

Copyright