Deutsche Bank and Banc of America Securities have set pricing on the $1 billion credit facility for Silgan Holdings. The pro rata is being pitched at LIBOR plus 1 1/8% and pricing on the "B" loan is LIBOR plus 1 1/2%. The tranches consist of a six-year, $450 million revolver, a six-year, $325 million term loan "A" and a seven-year, $225 million term loan "B."
Silgan supplies consumer goods packaging products. A Securities and Exchange Commission filing states the company is looking to lower interest rates based on favorable market conditions and its strengthening credit status (LMW, 6/6). Robert Lewis, executive v.p. and cfo, did not return calls.