---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-24-018007"
form_type: "8-K"
ticker: "PACK"
cik: "0001712463"
company_name: "Ranpak Holdings Corp."
filed_at: "2024-12-19T23:59:59+00:00"
generated_at: "2026-05-29T01:43:09.818411+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# Ranpak closes $460M refinancing with $410M term loan and $50M revolver

## Summary
- New $410M first-lien term loan and $50M revolving credit facility replace existing senior secured credit facilities.
- Term loan matures in 7 years; revolving facility expires in 5 years; no revolving draws at closing.
- Term loan interest at SOFR+4.50% (or ABR+3.50%), stepping down to SOFR+4.25%; revolver at SOFR+4.00%, stepping down to 3.25%.
- Proceeds used to refinance existing debt and pay transaction fees and expenses.
- Springing financial covenant: max first-lien leverage ratio of 7.65:1.00 tested only when revolver usage exceeds 40% of commitments.

## SEC filing metadata
- accession: 0000950103-24-018007
- form_type: 8-K
- ticker: PACK
- cik: 0001712463
- company_name: Ranpak Holdings Corp.
- filed_at: 2024-12-19T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1712463/000095010324018007/0000950103-24-018007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1712463/000095010324018007/dp222355_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-24-018007
- JSON: https://secwatch.observer/filing/0000950103-24-018007.json
- Plain text: https://secwatch.observer/filing/0000950103-24-018007.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.