Caraustar Industries obtains commitment for $75 million revolver

By Sara Rosenberg

New York, April 29 - Caraustar Industries Inc. entered into a commitment letter for a new $75 million asset-based revolving credit facility. The loan is expected to close prior to June 30.

Security for the revolver is accounts receivable and inventory.

The new revolver will be used to replace the company's existing facility, which was recently reduced to a size of $47 million from $75 million in exchange for an amendment to the credit agreement that provided the company with covenant relief.

Caraustar is an Austell, Ga. manufacturer of recycled paperboard and converted paperboard products.

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