Graphic Packaging ups revolver and term loan A, eliminates B loan

By Sara Rosenberg

New York, March 7 - Graphic Packaging International Inc. increased the size of its revolver to $1 billion from $800 million and its term loan A to $1 billion from $800 million. It also dropped plans for a $400 million term loan B, according to a market source.

Pricing on the revolver and term loan A was left unchanged at Libor plus 225 basis points.

The pro rata tranches were launched to lenders on Feb. 24, while the term loan B had not yet come to market.

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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