PKG issues $400M of 5.700% Senior Notes due 2033 to refinance 2024 debt

PACKAGING CORP OF AMERICA

Issued $400M aggregate principal of 5.700% Senior Notes due 2033; expected net proceeds ~$396M.
Net proceeds plus cash on hand to redeem outstanding 3.650% Senior Notes due Sept 15, 2024.
Underwriting agreement with Deutsche Bank Securities and Wells Fargo Securities as representatives.
Pending redemption, net proceeds to be invested in short-term interest-bearing securities.

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