Silgan Holdings to use revolver draw to buy back $200 million of stock

By Angela McDaniels

Tacoma, Wash., Feb. 3 – Silgan Holdings Inc. plans to make a draw on its revolving senior secured credit facility, according to the company’s latest earnings release.

The borrowings and cash on hand will be used to fund a modified Dutch Auction tender offer for up to $200 million of the company’s common stock.

Silgan makes rigid packaging for shelf-stable food and other consumer goods products. The company is based in Stamford, Conn.

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