Item 1.01 Entry into a Material Definitive Agreement.
On
The Third Amendment provided us with
Pursuant to the Third Amendment, the maturity dates for revolving loans and term
loans under the Credit Facility were extended by more than three years. The
maturity date for revolving loans and the date until which revolving loans
generally may be borrowed, repaid or reborrowed from time to time was extended
by the Third Amendment to
Date PercentageSeptember 30, 2023 5.0%December 31, 2024 10.0%December 31, 2025 10.0%December 31, 2026 10.0%
In addition, pursuant to the Third Amendment, the definition of applicable
margin was amended to provide separate margin schedules for term loans, on the
one hand, and revolving loans and swingline loans, on the other hand. The
applicable margins for term loans and for revolving loans and swingline loans
are reset quarterly using the applicable margin schedule based on our Total Net
Leverage Ratio (as defined in the Credit Facility). Pursuant to the Third
Amendment, the range for the applicable margin for term loans is 0.25% to 0.75%
for Base Rate Loans and 1.25% to 1.75% for Eurocurrency Rate Loans and
Transitioned RFR Loans (each as defined in the Credit Facility), and the range
for the applicable margin for revolving loans and swingline loans is 0.00% to
0.50% for
The Third Amendment also terminated the separate Cdn
Additionally, the Third Amendment includes other changes to the Credit Facility, including certain changes which provide us with additional flexibility to pursue our strategic initiatives.
The foregoing description of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Third Amendment, which is attached as Exhibit 10.1 hereto and incorporated herein by reference.
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Item 8.01 Other Events.
On
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description 10.1 Third Amendment to Amended and Restated Credit Agreement, dated as ofNovember 9, 2021 , amongSilgan Holdings Inc. ,Silgan Containers LLC ,Silgan Plastics LLC ,Silgan Containers Manufacturing Corporation , the other Guarantors party thereto, the Lenders party thereto andWells Fargo Bank, National Association , as Administrative Agent.* 99.1 Press Release datedNovember 9, 2021 announcing completion of an amendment to our senior secured credit facility. 104 Cover Page Interactive File (the cover page tags are embedded within the Inline XBRL document).
* Certain schedules to this exhibit have been omitted in accordance with Item
601(a)(5) of Regulation S-K.
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