WS Packaging to launch $276 million credit facility on Thursday

By Sara Rosenberg

New York, July 9 - WS Packaging Group Inc. set a bank meeting for Thursday morning to launch a $276 million credit facility, according to a market source.

GE Capital Markets is the lead on the deal.

The facility consists of a $40 million revolver and a $236 million first-lien term loan, the source said.

Proceeds will be used to refinance existing debt, including bank borrowings and mezzanine debt, the source added.

WS Packaging is a Green Bay, Wis.-based pressure sensitive label manufacturer.

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