P.H. Glatfelter seeks $300 million credit facility

By Sara Rosenberg

New York, March 23 - P.H. Glatfelter Co. is in-market with a $300 million credit facility, according to a syndicate document. Credit Suisse and PNC are joint lead arrangers on the deal.

The facility consists of a $150 million five-year revolver talked at Libor plus 87.5 basis points with a 17.5 basis point commitment fee, and a $150 million five-year term loan B talked at Libor plus 87.5 basis points, the document said.

Proceeds from the deal, which launched with a bank meeting on March 16, will be used for acquisition financing.

P.H. Glatfelter is a York, Pa., manufacturer of specialty papers and engineered products.

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