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Silgan Holdings $200 million add-on to 9% notes due 2009 pricing Tuesday
By Paul A. Harris
St. Louis, Mo., April 22 - Silgan Holdings, Inc. will price a $200 million drive-by add-on to its 9% senior notes due June 1, 2009 (expected ratings B1/B) on Tuesday afternoon, according to a syndicate source.
Morgan Stanley, Deutsche Bank Securities Inc. and Salomon Smith Barney are joint bookrunners on the Rule 144A deal.
The notes are callable on June 1, 2002 at 104.50, June 1, 2003 at 103.375, June 1, 2004 at 102.25, June 1, 2005 at 101.125 and at par on June 1, 2006 and thereafter.
Proceeds will be used to repay bank debt.
The original deal for $300 million priced on June 3, 1997.
The Stamford, Conn.-based company manufactures packaging products for consumer goods.
An investor conference call is scheduled to take place at 11.00 a.m. ET Tuesday, with pricing set for later Tuesday afternoon.
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