Multi-Color amends facility to lift size and permit acquisition

By Jennifer Chiou

New York, Feb. 5 - Multi-Color Corp. and certain subsidiaries entered into on Feb. 3 an amendment to its credit agreement with Bank of America, NA as administrative agent, increasing the term loan A to $372 million and the revolver to $155 million, according to an 8-K filing with the Securities and Exchange Commission.

The amendment also authorized Multi-Color's acquisition of the Di-Na-Cal label business from Graphic Packaging International, Inc. The transaction was partly financed using proceeds from the facility.

Westpac Banking Corp. acted as the Australian administrative agent for the credit agreement.

Under the asset purchase agreement, the company agreed to purchase substantially all of the assets in Graphic Packaging labels business for a $72,600,154 cash payment at closing and an $8,066,683 cash payment in escrow.

Multi-Color is a Batavia, Ohio-based label products company.

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