Silgan Receives Acquisition Financing
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Silgan Receives Acquisition Financing

Deutsche Bank is leading a E200 million add-on for Silgan Holdings to back its E230 million acquisition of Amcor's White Cap closures business.

Deutsche Bank is leading a E200 million add-on for Silgan Holdings to back its E230 million acquisition of Amcor'sWhite Cap closures business. The deal is priced at LIBOR plus 112.5 basis points.

The company has an existing $450 million revolver; a $125 million term loan "B" and a $425 million term loan "A." Pricing is LIBOR plus 112.5 basis points on the pro rata and LIBOR plus 125 basis points on the "B" loan (LMW, 6/27).

Silgan makes packaging for consumer goods and had annual net sales of about $2.5 billion in 2005. It operates 60 manufacturing plants in the U.S. and Canada. The White Cap business supplies a range of metal closures to consumer good packaging companies in the food and beverage industries in Europe, Asia and South America. It had sales of about E246 million for its fiscal year, ending June 30, 2005. A White Cap representative referred a call to Silgan. Calls to officials at Silgan were not returned.

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