PACKAGING CORP OF AMERICA (PKG): debt financing — PCA enters $1.6B in new credit facilities to fund Greif Acquisition

PACKAGING CORP OF AMERICA

New $500M 3-year term loan and $600M 5-year revolver (Commercial Credit) plus $500M 7-year term loan (Farm Credit) for total new facilities of $1.6B.
Proceeds from term loans will be used to fund the Greif Acquisition; revolving facility for working capital and general corporate purposes.
Old credit agreement (due June 2026) terminated; no borrowings outstanding except $27.5M in letters of credit.
Interest rates: SOFR + 0.805%-1.500% (commercial term loan) and SOFR + 1.85%-2.35% (farm term loan); tied to PCA's credit ratings.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

PACKAGING CORP OF AMERICA incurred credit facility of $500 million three-year unsecured term loan facility and a $600 million unsecured revolving credit facility at Term SOFR Rate or the Base Rate plus the Applicable Margin maturing three-year unsecured term loan facility.

Instrument: credit facility
Principal: $500 million three-year unsecured term loan facility and a $600 million unsecured revolving credit facility
Rate: Term SOFR Rate or the Base Rate plus the Applicable Margin
Maturity: three-year unsecured term loan facility
Event: incurrence

Exact text from the filing

The Commercial Credit Agreement includes a $500 million three-year unsecured term loan facility and a $600 million unsecured revolving credit facility.

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

PACKAGING CORP OF AMERICA incurred credit facility of $500 million seven-year unsecured term loan facility at Term SOFR Rate or the Base Rate plus the Applicable Margin maturing seven-year unsecured term loan facility.

Instrument: credit facility
Principal: $500 million seven-year unsecured term loan facility
Rate: Term SOFR Rate or the Base Rate plus the Applicable Margin
Maturity: seven-year unsecured term loan facility
Event: incurrence

Exact text from the filing

The Farm Credit Agreement is a $500 million seven-year unsecured term loan facility.

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Source: SEC EDGAR

accession 0001193125-25-174557

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