Silgan Holdings Inc. (Nasdaq:SLGN), a leading supplier of sustainable rigid packaging solutions for consumer goods products, announced today that it priced its previously announced private offering of senior secured notes. Silgan announced that it entered into an agreement to sell $500 million aggregate principal amount of its 1.4% Senior Secured Notes due 2026 at 99.945 percent of their principal amount. The new notes will mature on April 1, 2026. Interest on the new notes will accrue and be payable semi-annually on April 1 and October 1 of each year, commencing October 1, 2021. The new notes will be guaranteed on a senior secured basis by the U.S. subsidiaries of Silgan that guarantee obligations under Silgan’s senior secured credit facility. The new notes and the related guarantees will be secured on a pari passu basis with Silgan’s senior secured credit facility by the same collateral of Silgan and its U.S. subsidiaries that secures their obligations under Silgan’s senior secured credit facility. Silgan intends to use the net proceeds from the new senior secured notes offering to prepay a portion of its outstanding term loans under its senior secured credit facility.
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