Company: SLGN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049324
Chunk: 75

Company: SILGAN HOLDINGS INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 75
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 to improved manufacturing productivity and cost performance.

CAPITAL RESOURCES AND LIQUIDITY

Our principal sources of liquidity have been net cash from operating activities and borrowings under our debt instruments, including our senior secured credit facility. Our liquidity requirements arise from our obligations under the indebtedness incurred in connection with our acquisitions and the refinancing of that indebtedness, capital investment in new and existing equipment, the funding of our seasonal working capital needs and other general corporate uses.

On September 12, 2025, we issued €600.0 million aggregate principal amount of the 4¼% Senior Notes at 100 percent of their principal amount. The net proceeds from the sale of the 4¼% Senior Notes were approximately €592.4 million after deducting the initial purchasers' discount and estimated offering expenses. We used the net proceeds from the sale of the 4¼% Senior Notes to repay outstanding Euro revolving loan borrowings under the Credit Agreement.

You should also read Note 6 to our Condensed Consolidated Financials Statements for the three and nine months ended September 30, 2025 included elsewhere in this Quarterly Report with regard to our debt. 

On March 15, 2025, we repaid all €650.0 million aggregate principal amount of our outstanding 3¼% Notes at 100 percent of their principal amount plus accrued and unpaid interest to the repayment date. We funded this repayment with Euro revolving loan borrowings under the Credit Agreement and cash on hand.

For the nine months ended September 30, 2025, we used proceeds from the issuance of the 4¼% Senior Notes of $703.6 million, net borrowings of revolving loans of $556.3 million, cash and cash equivalents of $433.7 million and the positive effect of exchange rate changes on cash and cash equivalents of $32.2 million to fund cash used in operations of $564.0 million, the repayment of long-term debt of $706.3 million, net capital expenditures and other investing activities of $227.3 million, decreases in outstanding checks of $85.0 million, dividends paid on our common stock of $64.8 million, repurchases of our 

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common stock of $66.2 million, debt issuance costs of $8.3 million and the repayment of principal amounts under finance leases of $3.9 million.

For the nine months ended September 30, 2024, we used net borrowings of revolving loans of $491.6