PaperWorks Industries prepays $18.8 million of term loan

By Angela McDaniels

Tacoma, Wash., Feb. 7 – PaperWorks Industries, Inc. prepaid $18.8 million principal amount, or 16.5%, of its term loan, according to a company news release.

The company borrowed the term loan in February 2018.

In addition, the company will redeem $4.4 million of its 9½% senior secured notes due Aug. 15, 2019 on March 4.

The redemption represents all notes outstanding.

PaperWorks, which makes recycled paperboard and is based in Bala Cynwyd, Pa., said it continues to take steps to further increase liquidity and maximize value for stakeholders.

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