Company: SLGN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049324
Chunk: 35

Company: SILGAN HOLDINGS INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 35
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 a U.S. subsidiary provides a guarantee before that date.The 4¼% Senior Notes and the related guarantees are general senior unsecured obligations of us and the subsidiary guarantors, respectively, and are (i) effectively subordinated to all of our and the subsidiary guarantors’ existing and future secured indebtedness, including secured indebtedness under the Credit Agreement and the 1.4% Senior Secured Notes, to the extent of the value of the assets securing such indebtedness, (ii) equal in right of payment with all of our and the subsidiary guarantors’ existing and future senior indebtedness, including the 4⅛% Senior Notes and the 2¼% Senior Notes, (iii) senior to all of our and the subsidiary guarantors’ existing and future subordinated indebtedness, and (iv) structurally subordinated to the existing and future indebtedness and other liabilities (including trade payables) of our non-guarantor subsidiaries.The 4¼% Senior Notes will mature on February 15, 2031. Interest on the 4¼% Senior Notes is payable semiannually on February 15 and August 15 of each year, commencing on February 15, 2026. The 4¼% Senior Notes were issued pursuant to, and are governed by, that certain indenture, dated as of September 12, 2025, among us, certain of our U.S. subsidiaries, U.S. Bank Trust Company, National Association, as trustee, U.S. Bank Europe DAC, UK Branch, as paying agent, and U.S. Bank Europe DAC, as registrar and transfer agent, which indenture contains covenants that are generally less restrictive than those in the Credit Agreement and substantially similar to the covenants in the indentures for the 1.4% Senior Secured Notes, the 4⅛% Senior Notes and the 2¼% Senior Notes.The 4¼% Senior Notes are redeemable, at our option, in whole or in part, at any time on or after September 15, 2027 initially at 102.125 percent of their principal amount, plus accrued and unpaid interest to the redemption date, declining ratably annually to 100 percent of their principal amount, plus accrued and unpaid interest to the redemption date, on or after September 15, 2029. At any time before September 15, 2027, we also have the right to redeem the 4¼% Senior Notes