Silgan Announces Redemption of All Outstanding 4¾% Senior Notes
25 February 2022 - 8:00AM
Business Wire
Silgan Holdings Inc. (Nasdaq:SLGN), a leading supplier of
sustainable rigid packaging solutions for consumer goods products,
announced today that it has given irrevocable notice for the
redemption on March 28, 2022 of all $300 million aggregate
principal amount of its outstanding 4¾% Senior Notes due 2025.
Pursuant to the terms of the indenture governing the 4¾% Senior
Notes, the Company will redeem all $300 million aggregate principal
amount of its outstanding 4¾% Senior Notes on March 28, 2022 at a
redemption price of 100 percent of their principal amount plus
accrued and unpaid interest up to the redemption date. The Company
will fund this redemption with revolving loan borrowings under its
senior secured credit facility and cash on hand.
Silgan is a leading supplier of sustainable rigid packaging
solutions for consumer goods products with annual net sales of
approximately $5.7 billion in 2021. Silgan operates 113
manufacturing facilities in North and South America, Europe and
Asia. The Company is a leading worldwide supplier of dispensing and
specialty closures for food, beverage, health care, garden, home,
personal care, fragrance and beauty products. The Company is also a
leading supplier of metal containers in North America and Europe
for food and general line products. In addition, the Company is a
leading supplier of custom 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 2020 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: https://www.businesswire.com/news/home/20220224006026/en/
Robert B. Lewis (203) 406-3160
Silgan (NASDAQ:SLGN)
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