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Jenner & Block represented Silgan Holdings Inc. in offerings of $200 million aggregate principal amount of its 4⅛% Senior Notes due 2028 at 99.5 percent of their principal amount, plus accrued and unpaid interest from November 12, 2019, and €500 million aggregate principal amount of its 2¼% Senior Notes due 2028 at 100 percent of their principal amount. The new U.S. Dollar notes were issued as additional notes under the indenture pursuant to which Silgan previously issued $400 million of its 4⅛% Senior Notes due 2028 on November 12, 2019.
The offerings were made pursuant to Rule 144A and in compliance with Regulation S under the Securities Act of 1933, as amended. BofA Securities and Merrill Lynch International were the representatives of the initial purchasers in the offerings.
The offerings priced on February 19 and closed on February 26.
Silgan is a leading supplier of rigid packaging for consumer goods products with annual net sales of approximately $4.5 billion in 2019. It intends to use the net proceeds from the senior notes offerings to prepay most of its outstanding U.S. A term loans under its senior secured credit facility.