Silgan Holdings Inc. announced that it completed a new senior secured credit facility which refinanced its existing senior secured credit facility and will provide greater flexibility with regard to its strategic initiatives. Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc. and Goldman Sachs Bank USA were the joint lead arrangers and joint book managers for the new syndicated credit facility. The new credit facility provides the Company with USD 365 million of US A term loans, EUR 220 million of Euro A term loans, CAD 70 million of Canadian A term loans and a USD 1.0 billion multicurrency revolving loan facility.

In addition, the new credit facility provides greater flexibility to the Company to, among other things, make acquisitions, pay dividends, repurchase stock and incur additional debt. The term loans provided under the new credit facility refinanced the term loans under the prior credit facility, and the new term loans mature on January 14, 2020. The Company may use revolving loans under the new credit facility for working capital and other general corporate purposes, including acquisitions, stock repurchases and refinancing of other debt.

The revolving loan facility matures on January 14, 2019. The new credit facility also provides the Company with an incremental uncommitted multicurrency loan facility for an additional USD 1.25 billion, which may be increased as provided in the new credit facility and may be used to finance acquisitions and for other permitted purposes. Under the new credit facility, the interest rate for US dollar loans will be either the Eurodollar Rate or the base rate plus a margin, the interest rate for Euro loans will be the Eurodollar Rate plus a margin and the interest rate for Canadian dollar loans will be either the CDOR Rate or the Canadian prime rate plus a margin.

Initially, for term loans and revolving loans maintained as Eurodollar Rate or CDOR Rate loans the margin will be 1.50% and for term loans and revolving loans maintained as base rate or prime rate loans the margin will be 0.50%. The margins for term loans and revolving loans are subject to adjustment quarterly based upon financial ratios.