SILGAN HOLDINGS INC. (NASDAQ:SLGN) Files An 8-K Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Item 2.04. Triggering Events That Accelerate or Increase a Direct
Financial Obligation or an Obligation Under an Off-Balance Sheet
Arrangement.
irrevocable notice of partial redemption to the holders of its 5%
Senior Notes due 2020, or the 5% Notes, for the redemption of
$220 million aggregate principal amount of the 5% Notes. The 5%
Notes were issued and the redemption of the 5% Notes will be
effected to the terms of the Indenture, dated as of March 23,
2012, between the Company and U.S. Bank National Association, as
trustee. The 5% Notes will be redeemed on April 3, 2017 at a
redemption price of 101.25% of their outstanding principal
amount, or approximately $222.75 million, plus accrued and unpaid
interest up to the date of redemption. The Company will fund this
redemption using a portion of the net proceeds it received from
its recent issuance of 650 million of its 3 % Senior Notes due
2025. As a result of this redemption, the Company will incur a
loss on early extinguishment of debt of approximately $0.05 per
diluted share.
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Item 8.01.
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Other Events.
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hereto as Exhibit 99.1 and incorporated herein by reference,
announcing the partial redemption of the 5% Senior Notes due
2020.
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(d)
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Exhibits:
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Exhibit No.
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Description
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99.1
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Press Release dated March 3, 2017 announcing the partial
redemption of the 5% Senior Notes due 2020. |
About SILGAN HOLDINGS INC. (NASDAQ:SLGN)
Silgan Holdings Inc. (Silgan) is a manufacturer of rigid packaging for shelf-stable food and other consumer goods products. The Company operates through three segments: metal container, closures and plastic container. The Company’s products include steel and aluminum containers for human and pet food and general line products; metal, composite and plastic closures for food and beverage products, and custom designed plastic containers and closures for personal care, food, healthcare, pharmaceutical, household and industrial chemical, pet care, agricultural, automotive and marine chemical products. Its metal container business is engaged in the manufacture and sale of steel and aluminum containers that are used primarily by processors and packagers for food products, such as soup, vegetables, fruit, meat, tomato-based products, seafood, coffee, adult nutritional drinks, pet food and other miscellaneous food products, as well as general line metal containers primarily for chemicals. SILGAN HOLDINGS INC. (NASDAQ:SLGN) Recent Trading Information
SILGAN HOLDINGS INC. (NASDAQ:SLGN) closed its last trading session up +0.74 at 60.40 with 255,918 shares trading hands.