Guala Closures works with lenders to add €54 million to revolver

Chicago, Oct. 2 – Guala Closures SpA announced that certain lenders are providing an additional €54 million to increase commitments under the company’s revolving credit facility, according to an announcement.

With the increase, the total facility size will be €150 million.

Additionally, Guala launched an offering senior secured floating-rate notes due 2029 on Monday.

Proceeds from the notes will be used to fund the purchase price for the acquisition of Yibin Fengyi Packaging Co., Ltd., provide cash for general corporate purposes including potential bolt-on acquisitions and fund a €250 million distribution to the shareholder of the company.

Guala Closures is a Milano, Italy-based producer of closures for beverages and condiments.

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