Sealed Air Corporation announced that it commenced an offering of senior secured notes due 2026. The Notes will be jointly and severally, and irrevocably and unconditionally, guaranteed on a senior secured basis by each of Sealed Air's existing and future wholly owned domestic subsidiaries that guarantee its senior secured credit facilities, subject to release under certain circumstances. The notes and related guarantees will be secured on a first-priority basis by liens on substantially all of the company and domestic guarantor subsidiaries' personal property securing obligations the company owe to lenders under senior secured credit facilities on a pari passu basis, subject to certain exceptions. Sealed Air intends to use the net proceeds from the offering of the Notes, along with cash on hand, to repurchase the 4.875% senior notes due 2022 pursuant to the tender offer commenced by the Company and satisfy and discharge all of its outstanding 2022 Notes in accordance with the terms of the indenture governing the 2022 Notes, and to pay related premiums, fees and expenses in connection therewith and for general corporate purposes. This announcement does not constitute an offer to purchase the 2022 Notes or a notice of satisfaction and discharge with respect to the 2022 Notes.