Benzinga | Sep 16, 2021 06:48AM EDT

Sealed Air Prices Upsized Debt Offering To Raise $600M

* Sealed Air Corp (NYSE:SEE) has announced the pricing of its offering of 1.573% senior secured notes due 2026. The offering was upsized from $425 million of Notes to $600 million of Notes.

* Sealed Air intends to use the net proceeds from the offering to repurchase the 4.875% senior notes due 2022.

* The company estimates net proceeds from the sale of the Notes, after initial purchasers' discounts and commissions, to be about $595 million.

* The offering is expected to close on September 29, 2021.

* Price Action: SEE shares closed higher by 0.21% at $58.27 on Wednesday.