Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2013

Long-term debt at December 31 was as follows:



	2013		2012
	(Dollars in thousands)
Bank debt:
Bank revolving loans	$	—	$	—
U.S. term loans	364,000		520,000
Canadian term loans	64,485		81,389
Euro term loans	323,704		443,406
Other foreign bank revolving and term loans	151,647		126,521
Total bank debt	903,836		1,171,316
5½% Senior Notes	300,000		—
5% Senior Notes	500,000		500,000
Total debt	1,703,836		1,671,316
Less current portion	146,174		255,349
	$	1,557,662	$	1,415,967

Redemption Price of Notes Plus Accrued and Unpaid Interest Thereon to Redemption Date

The 5½% Notes are redeemable, at the option of Silgan, in whole or in part, at any time after August 1, 2017 at the following redemption prices (expressed in percentages of principal amount) plus accrued and unpaid interest thereon to the redemption date if redeemed during the twelve month period commencing August 1 of the years set forth below:



Year		Redemption Price
2017		102.750%
2018		101.375%
2019 and thereafter		100.000%

The 5% Notes are redeemable, at the option of Silgan, in whole or in part, at any time after April 1, 2016 at the following redemption prices (expressed in percentages of principal amount) plus accrued and unpaid interest thereon to the redemption date if redeemed during the twelve month period commencing April 1 of the years set forth below:



Year		Redemption Price
2016		102.500%
2017		101.250%
2018 and thereafter		100.000%

Aggregate Annual Maturities of Debt

The aggregate annual maturities of our debt (non-U.S. dollar debt has been translated into U.S. dollars at exchange rates in effect at the balance sheet date) are as follows, assuming we had entered into the Credit Agreement and completed the refinancing of the 2011 Credit Facility on December 31, 2013 which resulted in a net decrease in our term loan borrowings of $17.9 million (dollars in thousands):



2014	$	126,159
2015	46,672
2016	76,876
2017	76,876
2018	76,876
Thereafter	1,282,439
	$	1,685,898