Glatfelter enters €250M term loan at 11.25% and amends revolver to $250M

Magnera Corp

New €250M senior secured term loan facility with 6-year maturity, interest at 11.25% per annum.
Amended revolving credit facility increased to $250M, maturing September 2, 2026.
Term loan proceeds used to refinance existing debt and for general corporate purposes.
Revolver bears interest based on Term SOFR/SONIA/CDOR/EURIBOR plus spread of 350-500 bps.
Both facilities secured by first/second priority liens on assets of Glatfelter and subsidiaries.

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

Magnera Corp entered into Term Loan Credit Agreement with Glatfelter Luxembourg S.à r.l., as Borrower, certain subsidiaries of Parent, as guarantors, Alter Domus (US), LLC, as Administrative Agent and the lenders party thereto valued at €250,000,000.00 (effective 2023-03-30).

Action: entry
Agreement: credit facility
Counterparty: Glatfelter Luxembourg S.à r.l., as Borrower, certain subsidiaries of Parent, as guarantors, Alter Domus (US), LLC, as Administrative Agent and the lenders party thereto
Value: €250,000,000.00
Effective: 2023-03-30

Exact text from the filing

On March 30, 2023, Glatfelter Corporation, (“ Parent ”), entered into a Term Loan Credit Agreement (the “ Term Loan Credit Agreement ”), by and among Parent, Glatfelter Luxembourg S.à r.l. (“ Borrower ”), certain subsidiaries of Parent, as guarantors, Alter Domus (US), LLC, as Administrative Agent and the lenders party thereto, providing for a senior secured term loan facility of up to €250,000,000.00

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

Magnera Corp amended Second Amendment to Fourth Amended and Restated Credit Agreement with PNC Bank, National Association, as Administrative Agent, and the lenders party thereto valued at $250,000,000.00 (effective 2023-03-30).

Action: amendment
Agreement: credit facility
Counterparty: PNC Bank, National Association, as Administrative Agent, and the lenders party thereto
Value: $250,000,000.00
Effective: 2023-03-30

Exact text from the filing

On March 30, 2023, Glatfelter Corporation (“ Parent ”), entered into the Second Amendment to Fourth Amended and Restated Credit Agreement (the “ Second Amendment ” and the “ Amended Revolving Credit Agreement ”), by and among Parent, Glatfelter Gatineau Ltée, Glatfelter Luxembourg S.à r.l., Glatfelter Gernsbach GmbH, Glatfelter Lydney, Ltd., and Glatfelter Malta Limited, as Borrowers (“ Borrowers ”), certain subsidiaries of Parent, as guarantors, PNC Bank, National Association, as Administrative Agent, and the lenders party thereto, providing for a senior secured revolving loan facility of up to $250,000,000.00

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Magnera Corp filing history →

Source: SEC EDGAR

accession 0001104659-23-039749

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