Packaging Corp of America issues $700M 3.050% Senior Notes due 2051 to refinance 2023 notes

PACKAGING CORP OF AMERICA

Issued $700M aggregate principal of 3.050% Senior Notes due 2051.
Net proceeds of ~$688.8M after underwriting discount and expenses.
Proceeds together with cash on hand to redeem outstanding 4.500% Senior Notes due 2023.
Underwriting agreement with Deutsche Bank Securities and Wells Fargo Securities as representatives.

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