Sealed Air Corporation Completes $300 Million Offering of Senior Notes Due 2008


SADDLE BROOK, N.J., June 26, 2001 (PRIMEZONE) -- Sealed Air Corporation (NYSE:SEE) announced today that it had completed a $300 million offering of senior notes due 2008 pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended. The notes, with a coupon of 8.75% per annum, were sold to investors at a price of 98.591% of the principal amount. The Company intends to use the net proceeds of the offering to refinance a portion of its outstanding indebtedness.

Sealed Air is engaged primarily in the manufacture and sale of a complementary line of food, protective and specialty packaging materials and systems, including such widely recognized brands as Bubble Wrap(r) air cellular cushioning, Jiffy(r) protective mailers and Cryovac(r) food packaging products. To view the Company's latest financial news online via the World Wide Web, visit http://www.cfonews.com/see.



            

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