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Packaging Corp. to obtain new term loan to finance TimBar acquisition
By Tali Rackner
Norfolk, Va., July 6 – Packaging Corp. of America expects to obtain a new term loan to finance its acquisition of substantially all of the assets of TimBar Corp., according to a press release.
The cash-free, debt-free transaction is expected to total $386 million.
Packaging Corp. of America is based in Lake Forest, Ill., and makes containerboard and corrugated packaging products. TimBar is a Hanover, Pa.-based independent corrugated products producer.
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