The new high-yield notes are due 2032

Davis Polk advised the several initial purchasers in a Rule 144A / Regulation S offering by Sealed Air Corporation and Sealed Air Corporation (US) of $400 million aggregate principal amount of its 6.500% senior notes due 2032.

Davis Polk also advised the dealer manager in connection with Sealed Air Corporation’s concurrent cash tender offer for any and all of its 5.500% senior notes due 2025, which was funded from the net proceeds of the offering.

Sealed Air is a leading global provider of packaging solutions that integrate sustainable, high-performance materials, automation, equipment and services. Sealed Air designs, manufactures and delivers packaging solutions that preserve food, protect goods and automate packaging processes. Sealed Air delivers its packaging solutions to an array of end markets, including fresh proteins, foods, fluids and liquids, medical and life science, e-commerce retail, logistics and omnichannel fulfillment operations, and industrials. Sealed Air portfolio of solutions includes CRYOVAC brand food packaging, LIQUIBOX brand liquids systems, SEALED AIR brand protective packaging, AUTOBAG brand automated packaging and BUBBLE WRAP brand packaging.

The Davis Polk capital markets team included partner Michael Kaplan and associates Arisa Akashi Sin and Walker Halstad. Partner Mario J. Verdolini and associates Alanna Phillips and Alex Ang Gao provided tax advice. The intellectual property team included partner Frank J. Azzopardi and associate Adrian Rabin. Counsel Loyti Cheng and associate Timothy J. Sullivan provided environmental advice. All members of the Davis Polk team are based in the New York office.

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