Ranpak amends credit agreement to replace LIBOR with SOFR as benchmark rate

Ranpak Holdings Corp.

Amendment No. 2 to First Lien Credit Agreement dated April 4, 2023 replaces LIBOR with SOFR plus spread adjustment.
All other terms of the credit agreement remain unchanged; no new debt or covenant changes.
Existing USD Eurocurrency Rate Loans continue at LIBOR until current interest period ends, then convert to SOFR or ABR.
Effective immediately upon execution by all parties.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Ranpak Holdings Corp. amended Amendment No. 2 with Goldman Sachs Lending Partners LLC (effective 2023-04-04).

Action: amendment
Agreement: credit facility
Counterparty: Goldman Sachs Lending Partners LLC
Effective: 2023-04-04

Exact text from the filing

On April 4, 2023, Ranger Pledgor LLC, a Delaware limited liability company (“Holdings”), Ranpak Corp., an Ohio corporation (the “U.S. Borrower”), Ranpak B.V., a private limited liability company under the laws of the Netherlands (the “Dutch Borrower” and together with the U.S. Borrower, the “Borrowers”), certain other subsidiaries of Holdings, certain lenders party to Amendment No. 2 (as defined below) and Goldman Sachs Lending Partners LLC (the “Administrative Agent”) entered into the Amendment No. 2 (“Amendment No. 2”) to that certain First Lien Credit Agreement, dated June 3, 2019

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Source: SEC EDGAR

accession 0000950103-23-005416

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