Glatfelter to draw on revolver for nonwovens business purchase

By Sara Rosenberg

New York, Jan. 6 – Glatfelter Corp. plans to use borrowings under its existing revolving credit facility to help fund the acquisition of Georgia-Pacific’s U.S. nonwovens business for $175 million, according to a news release.

Other funds for the transaction will come from cash on hand.

Closing is subject to customary conditions, including receipt of required regulatory clearances.

Glatfelter is a Charlotte, N.C.-based supplier of engineered materials.

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