Silgan Appetite Tops $1 Bln

  • 05 May 2002
Email a colleague
Request a PDF

Institutional players offered more than $1billion for Silgan Holdings' $300 million "B" loan before the bank meeting was even held April 25. Deutsche Bank, Bank of America, Morgan Stanley and Citibank all have roles on the $800 million bank deal, which also comprises a $400 million, six-year revolver and a $100 million "A" term loan, said a banker. Silgan is looking to refinance to take advantage of the current investor enthusiasm for the paper, said Harley Rankin Jr., executive v.p. and cfo of Silgan. The $300 million "B" is still being shopped and the LIBOR plus 21/ 2% pricing is unchanged, the banker noted. The pro rata is priced at LIBOR plus 2%.

Deutsche Bank is administration agent and B of A is the syndication agent. Morgan Stanley was lead manager on an accompanying $200 million bond issue, with the other three banks as bookrunners. The bonds yield 8.119%, 0.9% lower than the company's existing notes, said Rankin.

Silgan makes metal, plastic and paperboard containers. Moody's Investors Service assigned a Ba2 rating to the company, citing the solid financial condition as evidenced by the strength of its EBITDA margins.

  • 05 May 2002

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Jul 2017
1 Bank of America Merrill Lynch 57,945.74 181 12.35%
2 Citi 57,243.86 174 12.20%
3 Wells Fargo Securities 48,214.86 152 10.28%
4 JPMorgan 33,301.70 114 7.10%
5 Credit Suisse 25,010.27 80 5.33%