Silgan Announces New Senior Notes Offerings
February 06 2017 - 4:42PM
Business Wire
Silgan Holdings Inc. (Nasdaq:SLGN), a leading supplier of rigid
packaging for consumer goods products, announced today that it
plans to offer $300 million aggregate principal amount of senior
unsecured notes maturing on March 15, 2025 and €450 million
aggregate principal amount of senior unsecured notes maturing on
March 15, 2025, in each case subject to favorable market
conditions. Silgan intends to use the net proceeds from the U.S.
Dollar notes offering to prepay a portion of its outstanding U.S.
Dollar term loans and repay a portion of its outstanding revolving
loans under its senior secured credit facility. Silgan intends to
use the net proceeds from the Euro notes offering to prepay all
outstanding Euro term loans and repay a portion of its outstanding
revolving loans under its senior secured credit facility and to
repay certain foreign bank revolving and term loans of certain of
its non-U.S. subsidiaries.
The notes being offered by Silgan will not initially be
registered under the Securities Act of 1933, as amended, or the
Securities Act, or under any state securities law and may not be
offered or sold in the United States absent registration or an
applicable exemption from registration under the Securities Act and
applicable state securities laws. The notes will be offered only to
qualified institutional buyers under Rule 144A and outside the
United States in compliance with Regulation S under the Securities
Act. This press release does not constitute an offer to sell any
security and shall not constitute an offer, solicitation or sale in
any jurisdiction in which such offering would be unlawful.
Silgan is a leading supplier of rigid packaging for consumer
goods products with annual net sales of approximately $3.6 billion
in 2016. Silgan operates 87 manufacturing facilities in North and
South America, Europe and Asia. Silgan is a leading supplier of
metal containers in North America and Europe and a leading
worldwide supplier of metal, composite and plastic closures for
food and beverage products. In addition, Silgan is a leading
supplier of plastic containers for shelf-stable food and personal
care products in North America.
Statements included in this press release which are not
historical facts are forward-looking statements made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 and the Securities Exchange Act of 1934, as
amended. Such forward-looking statements are made based upon
management’s expectations and beliefs concerning future events
impacting the Company and therefore involve a number of
uncertainties and risks, including, but not limited to, those
described in the Company’s Annual Report on Form 10-K for 2015 and
other filings with the Securities and Exchange Commission.
Therefore, the actual results of operations or financial condition
of the Company could differ materially from those expressed or
implied in such forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20170206006140/en/
Silgan Holdings Inc.Robert B. Lewis,
203-406-3160
Silgan (NASDAQ:SLGN)
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