Silgan to draw on revolver to fund note redemption

New York, March 16 – Silgan Holdings Inc. will borrow on its revolving credit facility and use cash on hand to finance the redemption of its remaining $280 million of 5% senior notes due 2020, according to a news release.

The note repayment is scheduled for April 16.

Silgan issued $500 million of the notes in 2012 and previously repaid $220 million of the principal amount in 2017.

Silgan is a Stamford, Conn., supplier of rigid packaging for consumer goods.

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