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by Stephen Carter
Sep 03, 2025 3:39 PM ET
Silgan Holdings Inc (SLGN) EUR600m 144A/Reg S sr notes due 02/15/31 (5.5y). NC2 (09/15/27) (MWC B+50bp), then at 102.125 09/15/27, 101.0625 09/15/28, 100 09/15/29. Equity claw: 2y 40% then at 104.25. Ba2/BB-/BB+ (stable/stable/stable). Via BofA/JPM/Mizuho/WFS jt gloco and physical books/SMBC/Rabo/TSI/GS/MS joint books, FITB, M&T, RBI, TD, USB, RBC, Scotia as co-managers. No reg rights. List Dublin. NY law. CoC at 101. Pays Feb 15 and Aug 15, starting 02/15/26. Denoms: 100kx1k. Settles 09/12 (T+7). Reg S ISIN: XS3176108747. IPT: mid-to-high 4s. Price talk: 4.375% area.
Priced: 4.25% at 100. +197bp vs DBR 0% 02/15/31.
Roadshow (small group meetings) 09/03 (investor call at 10:30am UKT 09/03). Books closed at 4pm UKT 09/03. UOP: partially pay down $704m (EUR600m) of the $1.362bn drawn on its revolver. Biz: a supplier of rigid packaging for consumer goods products. HQ: Stamford, CT. Netroadshow link: https://www.netroadshow.com/events/login/LE9zwo3kv5HdKHgusF4AxchcwrJbqqSLG3W