WestRock enters into $600 million seven-year term loan via CoBank

By Wendy Van Sickle

Columbus, Ohio, Sept. 27 – WestRock Co. subsidiary WestRock Southeast, LLC entered into a credit agreement that provides for a $600 million seven-year senior term loan on Friday, according to an 8-K filing with the Securities and Exchange Commission.

CoBank, ACB is the lead arranger, bookrunner and administrative agent.

Borrowings will bear interest at Libor plus a margin ranging from 150 basis points to 212.5 bps, depending on either credit ratings or leverage ratio, whichever results in a lower margin.

Proceeds were used to prepay loans outstanding under the credit agreement dated July 1, 2015 with WestRock CP, LLC, WestRock Converting, LLC and WestRock Virginia, LLC as borrowers.

WestRock is a packaging company based in Norcross, Ga.

© 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.