Silgan Holdings Inc. this week. The deal-including $250 million in A-term loans, $200 million in B-term loans and a six-year, $550 million revolving loan facility-was oversubscribed by roughly 50%, according to sources at Silgan. The Stamford, Conn., company, which manufactures packaging for consumer goods, plans to use the proceeds for operating needs and for acquisitions. Silgan wants to buy makers of metal food cans and plastic bottles, company officials said. The A-term loans and revolving loan will be priced at prime or the London interbank offered rate plus 1% and will mature in 2003. The B-term loans will be priced at 150 basis points above either Libor or prime and will mature in 2005. The interest rates will be reset quarterly. The loan is secured by the company's assets. Bankers Trust was administrative agent for the loans and BankAmerica Corp. served as syndication agent. Goldman, Sachs & Co. and Morgan Stanley Dean Witter, both new lenders for Silgan, were documentation agents.
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