By Wendy Van Sickle and Cristal Cody
Chicago, Feb. 4 – Silgan Holdings Inc. priced $500 million of 1.4% senior secured notes due April 1, 2026 (BBB-/BBB-) on Wednesday, according to a press release.
Details, including the spread and bookrunners, have been added to update the story.
The notes priced at 99.945 and a spread of Treasuries plus 95 basis points.
The notes were talked at the Treasuries plus 135 bps area, a market source said.
The notes will be guaranteed on a senior secured basis by the U.S. subsidiaries that guarantee obligations under the company’s senior secured credit facility.
Bookrunners for the offering were BofA Securities Inc. and Wells Fargo Securities LLC.
Proceeds from the Rule 144A and Regulation S notes will be used to prepay a portion of outstanding term loans under the company’s senior secured credit facility.
Silgan is a Stamford, Conn.-based producer of sustainable rigid packaging for consumer goods products.
| Issuer: | Silgan Holdings Inc.
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| Issue: | Senior secured notes
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| Amount: | $500 million
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| Maturity: | April 1, 2026
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| Bookrunners: | BofA Securities Inc. and Wells Fargo Securities LLC
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| Coupon: | 1.4%
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| Price: | 99.945
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| Spread: | Treasuries plus 95 bps
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| Pricing date: | Feb. 3
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| Ratings: | S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
| Talk: | Treasuries plus 135 bps area
|
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