Graphic Packaging starts roadshow for $400 million 8.25-year notes, €290 million 7.25-year notes

By Paul A. Harris

Portland, Ore., Nov. 8 – Graphic Packaging Holding Co. began marketing $400 million of 8.25-year senior bullet notes and €290 million of 7.25-year senior notes on Monday, according to market sources.

Initial guidance on the dollar-denominated notes has them coming with a yield in the low 4% area.

The Rule 144A and Regulation S deal is expected to price on Wednesday.

BofA Securities Inc. is the left bookrunner. Fifth Third Securities Inc., Mizuho Securities USA Inc., PNC Capital Markets LLC, Rabo Securities USA Inc., SMBC Nikko Securities America Inc., TD Securities (USA) LLC, Truist Securities Inc. and Wells Fargo Securities LLC are the joint bookrunners.

The notes in both tranches feature par calls six months prior to their respective maturities but are otherwise non-callable.

The Atlanta-based packaging company plans to use the proceeds to repay debt.

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