CROWN HOLDINGS, INC.
For the period ended Sep 30, 2025. Filed Oct 30, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 30, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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L. Debt
| September 30, 2025 | December 31, 2024 | |||
|---|---|---|---|---|
| Principal | Carrying | Principal | Carrying | |
| outstanding | amount | outstanding | amount | |
| Short-term debt | $142 | $142 | $66 | $66 |
| Long-term debt | ||||
| Senior secured borrowings: | ||||
| Revolving credit facilities | — | — | — | — |
| Term loan facilities | ||||
| U.S. dollar due 2027 | 1,175 | 1,173 | 1,175 | 1,171 |
| Euro due 20271 | 586 | 586 | 538 | 538 |
| Senior notes and debentures: | ||||
| U.S. dollar at 4.25% due 2026 | 400 | 399 | 400 | 399 |
| U.S. dollar at 4.75% due 2026 | — | — | 875 | 873 |
| U.S. dollar at 7.375% due 2026 | 350 | 350 | 350 | 350 |
| €500 at 2.875% due 2026 | 587 | 586 | 518 | 517 |
| €500 at 5.00% due 2028 | 587 | 582 | 518 | 513 |
| €500 at 4.75% due 2029 | 587 | 582 | 518 | 513 |
| €600 at 4.50% due 2030 | 704 | 696 | 621 | 611 |
| U.S. dollar at 5.25% due 2030 | 500 | 496 | 500 | 495 |
| U.S. dollar at 5.875% due 2033 | 700 | 690 | — | — |
| U.S. dollar at 7.50% due 2096 | 40 | 40 | 40 | 40 |
| Other indebtedness in various currencies | 67 | 67 | 118 | 118 |
| Total long-term debt | 6,283 | 6,247 | 6,171 | 6,138 |
| Less current maturities | (472) | (472) | (80) | (80) |
| Total long-term debt, less current maturities | $5,811 | $5,775 | $6,091 | $6,058 |
(1) €500 and €520 at September 30, 2025 and December 31, 2024
In May 2025, the Company issued $700 principal amount of 5.875% senior unsecured notes due 2033 issued at par by its subsidiary Crown Americas LLC and used the proceeds, together with cash on hand, to redeem the $875 principal amount of 4.75% senior unsecured notes due February 2026. The Company paid $10 in issuance costs that will be amortized over the term of the notes.
In October 2025, the Company issued €500 principal amount of 3.75% senior unsecured notes due 2031 issued at par by its subsidiary Crown European Holdings S.A. and used the proceeds, together with cash on hand, to redeem the €500 principal amount of 2.875% senior unsecured notes due February 2026.
The estimated fair value of the Company’s debt, using a market approach incorporating Level 2 inputs such as quoted market prices for the same or similar issues, was $6,500 at September 30, 2025 and $6,255 at December 31, 2024.
The U.S. dollar term loan interest rate was SOFR plus 1.10% and the Euro term loan interest rate was EURIBOR plus 1.00% at September 30, 2025 and at December 31, 2024.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.