Newark Group refinances with $186 million of new credit facilities

By Angela McDaniels

Tacoma, Wash., Feb. 11 - Newark Group, Inc. entered into an undrawn $50 million ABL revolving credit facility, an $80 million first-lien term loan and a $56 million second-lien term loan, according to a company news release.

The $186 million refinancing transaction "permits the company to invest in equipment, technology and talent," chief executive officer and president Frank Papa said in the release.

Moelis & Co. acted as financial adviser.

Newark Group is a Cranford, N.J.-based manufacturer of recycled paperboard and paperboard products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.