Graphic Packaging launches $1.6 billion pro rata at Libor plus 225 bps

By Sara Rosenberg

New York, Feb. 24 - Graphic Packaging International Inc. launched its $800 million revolver and $800 million term loan A on Friday with price talk of Libor plus 225 basis points, according to a market source.

The $400 million term loan B has not yet been launched to lenders, and if it does come to market, it probably won't be for a few weeks, the source said.

Bank of America Merrill Lynch, SunTrust Robinson Humphrey Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. and J.P. Morgan Securities LLC are the lead banks on the $2 billion credit facility (Ba2/BBB).

Proceeds will be used to refinance existing debt.

Graphic Packaging is a Marietta, Ga.-based provider of packaging services for food, beverage and other consumer products companies.

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