SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 31, 1996
SILGAN HOLDINGS INC.
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(Exact name of registrant as specified in its charter)
Delaware 33-28409 06-1269834
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(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
4 Landmark Square, Stamford, Connecticut 06901
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (203) 975-7110
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Item 5: Other Events.
On May 31, 1996, Silgan Corporation ("Silgan"), a wholly owned
subsidiary of Silgan Holdings Inc. ("Holdings"), and Silgan's wholly owned
subsidiaries, Silgan Containers Corporation and Silgan Plastics Corporation,
entered into an amendment to their Credit Agreement dated as of August 1, 1995
(as so amended, the "Credit Agreement"), pursuant to which, among other things,
certain lenders thereunder have agreed to lend to Silgan an additional $125
million of B term loans under the Credit Agreement. The Credit Agreement permits
Silgan to dividend and/or advance all of the proceeds of such additional $125
million of B term loans to Holdings so long as Holdings uses such funds to
redeem $125 million principal amount of its 13-1/4% Senior Discount Debentures
due 2002 (the "Debentures"). Holdings has provided the trustee under the
indenture for the Debentures with written notice of its election to redeem $125
million principal amount of the Debentures on July 5, 1996. Silgan will borrow
such additional $125 million principal amount of B term loans under the Credit
Agreement immediately prior to July 5, 1996 and will dividend and/or advance
such funds (along with additional funds from working capital borrowings under
the Credit Agreement) to Holdings to enable Holdings to fund such redemption of
$125 million principal amount of the Debentures along with accrued interest
thereon.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
SILGAN HOLDINGS INC.
By:/s/ Harley Rankin, Jr.
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Harley Rankin, Jr.
Executive Vice President,
Chief Financial Officer
and Treasurer
Date: May 31, 1996
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